What Wall Street Is Missing in This Tanker Stock

DHT’s third-quarter shipping revenue more than tripled as tanker rates jumped to $141,300 per day. Fourth quarter rates are even higher, signaling the best is yet to come.

The crude oil tanker industry has had a phenomenal earnings announcement season. The fact is tanker shipping rates are sitting at or near all-time highs -- and that has bolstered profits across the board.

DHT Holdings, Inc. (DHT) is the latest example.

If you’re unfamiliar with DHT, here’s what’s important to understand: The company transports crude oil around the world via its massive fleet of VLCCs.

Tanker companies like DHT have been able to charge a premium for their services due to insatiable demand, a shrinking global tanker fleet and increased risks in the Middle East.

And that was apparent in DHT’s latest quarterly results.

3Q Shipping Revenue More Than Triples

During the third quarter, DHT earned an average time charter equivalent (TCE) rate of $141,300 per day. Breaking that down…

• VLCCs in spot market: $167,100 per day
• VLCCs on time charter: $114,200 per day

Thanks to these elevated rates, DHT reported that its shipping revenue jumped 210% to $332.1 million. That’s up from $107.2 million in the third quarter of 2025.

Total third-quarter revenue soared 267% to $290.3 million, beating estimates of $256.06 million.

3Q Profits Surge 500%

Elevated tanker rates also propelled DHT’s earnings 500% higher.

Third-quarter earnings came in at $1.68 per share, up from $0.28 per share.

The consensus estimates only called for earnings of $1.26 per share. That means DHT posted a 33.3% earnings surprise.

Folks, these are exceptional results for a tanker company like DHT.

But based on the tanker rates the company is already earning in the fourth quarter, the best may be yet to come for DHT.

Spot Rates Exceed $500,000 Per Day in 4Q

Back in mid-October, DHT revealed that about 50% of available spot days for the fourth quarter were already booked.

The average rate? A whopping $509,100 per day!

For both spot and time charter days, DHT also estimated an average rate of $225,200 per day.

Fast forward to today and these rates have jumped even higher.

• 68% of spot days booked; average rate of $579,900 per day
• 86% of spot and time charter days booked; average rate of $267,500 per day

Talk about spectacular tanker rates.

DHT is clearly on track to make a boatload of money in the fourth quarter.

So Why Did the Stock Pullback?

The third-quarter earnings announcement season has been a bit of a conundrum.

Typically, DHT’s phenomenal results -- revenue up +267% and earnings up +500% -- coupled with the increased tanker rates in the fourth quarter would have dropkicked and driven shares to the sky.

Instead, DHT declined about 5% in the wake of its quarterly results.

It appears DHT is the latest victim of post-earnings profit taking.

From the end of August through mid-October, DHT surged 35% to a new record high.

Since the start of November, though, it’s clear that investors are taking some of these profits off the table. The latest quarterly results just gave investors another excuse to book some gains.

A bit counterintuitive, if you ask me.

The fact is DHT is showing no signs of slowing down.

More Record Results on the Horizon

The freight market remains robust. Demand is persistent. Tanker rates are skyrocketing.

DHT is directly positioned to capitalize on it.

And I’m not the only one who thinks so.

Analysts have revised fourth-quarter earnings estimates 59% higher in the past week alone. Estimates have also more than quadrupled in the past three months.

Fourth-quarter earnings are now forecast to surge 590%. Revenue is expected to jump 308%.

Folks, the growth DHT has experienced in 2026 isn’t tapering off. It’s accelerating.

The bottom line: DHT’s post-earnings dip is an incredible buying opportunity.

With tanker rates surging, DHT’s earnings and revenue are also increasing – and shares will follow suit. I firmly believe the latest dip will serve as a launching pad for DHT’s next move higher.

My stock grading system rates DHT as an A.