DHT (NYSE:DHT) Trading Up 5.4% – Here’s Why

DHT Holdings, Inc. (NYSE:DHT)’s stock price rose 5.4% during mid-day trading on Friday . The company traded as high as $10.88 and last traded at $10.59. Approximately 519,896 shares changed hands during trading, a decline of 65% from the average daily volume of 1,477,855 shares. The stock had previously closed at $10.05.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DHT shares. Kepler Capital Markets cut shares of DHT from a “buy” rating to a “hold” rating and set a $9.70 price target on the stock. in a research note on Thursday, December 12th. StockNews.com raised shares of DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. Jefferies Financial Group reiterated a “buy” rating and set a $14.00 price objective on shares of DHT in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus decreased their target price on DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.54.

DHT Price Performance

The firm has a market capitalization of $1.73 billion, a PE ratio of 10.72 and a beta of -0.38. The stock’s 50 day simple moving average is $9.75 and its two-hundred day simple moving average is $10.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.97 and a current ratio of 2.41.

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

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors 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 8.21%. The ex-dividend date of this dividend was Friday, November 22nd. DHT’s dividend payout ratio is currently 88.00%.

Hedge Funds Weigh In On DHT

A number of institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP acquired a new stake in shares of DHT during the 3rd quarter worth approximately $55,472,000. FMR LLC increased its stake in DHT by 10.0% during the third quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock worth $266,849,000 after acquiring an additional 2,195,916 shares during the last quarter. American Century Companies Inc. raised its position in DHT by 43.8% in 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 purchasing an additional 873,356 shares during the period. International Assets Investment Management LLC lifted its stake in shares of DHT by 1,144.6% in the 3rd quarter. International Assets Investment Management LLC now owns 678,808 shares of the shipping company’s stock valued at $7,487,000 after purchasing an additional 624,266 shares during the last quarter. Finally, Raymond James & Associates purchased a new position in shares of DHT during the 3rd quarter worth $5,004,000. 58.53% of the stock is owned by hedge funds and other institutional investors.

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.