DHT (NYSE:DHT) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of DHT (NYSE:DHT) from a hold rating to a sell rating in a report published on Monday morning.

Separately, Stifel Nicolaus lifted their price target on DHT from $12.00 to $13.00 and gave the company a hold rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $14.67.

DHT Price Performance

Shares of NYSE:DHT opened at $10.93 on Monday. DHT has a 12 month low of $8.60 and a 12 month high of $12.80. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.76 billion, a P/E ratio of 10.41 and a beta of -0.36. The company has a 50 day moving average of $11.03 and a 200 day moving average of $11.37.

DHT (NYSE:DHT) last released its quarterly earnings results on Monday, August 12th. The shipping company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $103.70 million during the quarter, compared to the consensus estimate of $102.75 million. DHT had a return on equity of 15.19% and a net margin of 27.45%. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. As a group, sell-side analysts forecast that DHT will post 1.14 EPS for the current fiscal year.

DHT Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 9.88%. DHT’s dividend payout ratio is presently 102.86%.

Institutional Investors Weigh In On DHT

Hedge funds have recently added to or reduced their stakes in the company. Greenlight Capital Inc. grew its holdings in shares of DHT by 86.7% during the 4th quarter. Greenlight Capital Inc. now owns 3,779,880 shares of the shipping company’s stock valued at $37,081,000 after purchasing an additional 1,755,060 shares during the last quarter. M&G Plc bought a new position in shares of DHT during the first quarter valued at about $16,417,000. M&G Investment Management Ltd. purchased a new position in shares of DHT in the fourth quarter worth about $11,223,000. Acadian Asset Management LLC lifted its stake in shares of DHT by 43.8% in the 2nd quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock valued at $39,184,000 after acquiring an additional 1,032,832 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in DHT by 43.8% during the 2nd quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock valued at $33,183,000 after acquiring an additional 873,356 shares during the period. Institutional investors own 58.53% of the company’s stock.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.