DHT (NYSE:DHT) Trading 5.8% Higher – Still a Buy?

Shares of DHT Holdings, Inc. (NYSE:DHT) were up 5.8% during mid-day trading on Tuesday . The company traded as high as $9.95 and last traded at $9.92. Approximately 2,865,460 shares changed hands during mid-day trading, an increase of 57% from the average daily volume of 1,825,067 shares. The stock had previously closed at $9.38.

Analyst Ratings Changes

A number of analysts have commented on the stock. Stifel Nicolaus lowered their target price on shares of DHT from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $14.00 price objective on shares of DHT in a report on Wednesday, November 13th. Fearnley Fonds upgraded DHT to a “strong-buy” rating in a report on Friday, September 27th. BTIG Research assumed coverage on DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price for the company. Finally, StockNews.com upgraded shares of DHT from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, DHT currently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

DHT Stock Performance

The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97. The stock has a 50-day moving average price of $10.73 and a 200 day moving average price of $11.11. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 9.90 and a beta of -0.37.

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

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 22nd were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 8.89%. The ex-dividend date was Friday, November 22nd. DHT’s dividend payout ratio is 88.00%.

Institutional Trading of DHT

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its position 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 in the last quarter. Wasatch Advisors LP acquired a new stake in DHT in the 3rd quarter valued at about $55,472,000. Acadian Asset Management LLC grew its holdings in DHT by 43.8% during the second quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock worth $39,184,000 after purchasing an additional 1,032,832 shares during the period. American Century Companies Inc. boosted its stake in DHT by 43.8% in 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 purchasing an additional 873,356 shares during the period. Finally, Two Sigma Advisers LP increased its position in DHT by 15.7% during the third quarter. Two Sigma Advisers LP now owns 2,102,800 shares of the shipping company’s stock worth $23,194,000 after acquiring an additional 284,900 shares during the period. 58.53% of the stock is currently owned by institutional investors and hedge funds.

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.