DHT (NYSE:DHT) Shares Gap Up – Time to Buy?

DHT Holdings, Inc. (NYSE:DHT)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $9.33, but opened at $9.80. DHT shares last traded at $9.89, with a volume of 712,088 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Kepler Capital Markets lowered DHT from a “buy” rating to a “hold” rating and set a $9.70 price target for the company. in a report on Thursday, December 12th. Stifel Nicolaus cut their price objective on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Fearnley Fonds upgraded DHT to a “strong-buy” rating in a research note on Friday, September 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $14.00 price objective on shares of DHT in a report on Wednesday, November 13th. Finally, BTIG Research initiated coverage on shares of DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.54.

DHT Stock Up 0.6 %

The firm has a market cap of $1.62 billion, a P/E ratio of 10.07 and a beta of -0.38. The company’s 50-day simple moving average is $9.75 and its 200 day simple moving average is $10.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97.

DHT (NYSE:DHT) last announced its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. DHT had a net margin of 27.72% and a return on equity of 15.58%. The firm had revenue of $92.64 million during the quarter, compared to the consensus estimate of $87.51 million. During the same quarter last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts anticipate that DHT Holdings, Inc. will post 1 EPS for the current fiscal year.

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 8.74%. The ex-dividend date was Friday, November 22nd. DHT’s dividend payout ratio (DPR) is 88.00%.

Institutional Investors Weigh In On DHT

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP purchased a new position in shares of DHT during the 3rd quarter worth about $55,472,000. FMR LLC boosted its position in shares of DHT by 10.0% during the third quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock valued at $266,849,000 after buying an additional 2,195,916 shares during the period. American Century Companies Inc. grew its stake in shares of DHT by 43.8% during the second quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock valued at $33,183,000 after buying an additional 873,356 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of DHT by 1,144.6% during the third quarter. International Assets Investment Management LLC now owns 678,808 shares of the shipping company’s stock valued at $7,487,000 after buying an additional 624,266 shares during the last quarter. Finally, Raymond James & Associates purchased a new stake in shares of DHT in the third quarter worth approximately $5,004,000. 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.