DHT (NYSE:DHT) Hits New 12-Month Low – Here’s What Happened

DHT Holdings, Inc. (NYSE:DHT) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $9.16 and last traded at $9.16, with a volume of 386734 shares changing hands. The stock had previously closed at $9.36.

Wall Street Analysts Forecast Growth

DHT has been the topic of several analyst reports. StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Jefferies Financial Group reiterated a “buy” rating and set a $14.00 price target on shares of DHT in a research report on Wednesday, November 13th. Stifel Nicolaus lowered their price target on DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. BTIG Research started coverage on DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Kepler Capital Markets cut DHT from a “buy” rating to a “hold” rating and set a $9.70 price target on the stock. in a research report on Thursday. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.54.

DHT Trading Up 1.5 %

The firm has a market capitalization of $1.46 billion, a P/E ratio of 8.93 and a beta of -0.37. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.97 and a current ratio of 2.41. The firm has a 50 day moving average price of $10.46 and a two-hundred day moving average price of $10.97.

DHT (NYSE:DHT) last released its quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The business had revenue of $92.64 million during the quarter, compared to analyst estimates of $87.51 million. DHT had a return on equity of 15.58% and a net margin of 27.72%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.19 EPS. On average, equities research analysts expect that DHT Holdings, Inc. will post 1 EPS for the current fiscal year.

DHT Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.22 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 9.71%. DHT’s dividend payout ratio is 88.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP lifted its position in shares of DHT by 2,494.6% in the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after buying an additional 3,717 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of DHT during the 3rd quarter worth about $50,000. Nisa Investment Advisors LLC lifted its position in shares of DHT by 52.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock worth $76,000 after purchasing an additional 2,361 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of DHT during the 2nd quarter worth about $78,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of DHT during the 2nd quarter worth about $80,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

DHT Company Profile

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.