Stifel Nicolaus Lowers DHT (NYSE:DHT) Price Target to $11.00

DHT (NYSE:DHT) had its target price trimmed by Stifel Nicolaus from $13.00 to $11.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the shipping company’s stock.

A number of other research analysts have also issued reports on the stock. BTIG Research initiated coverage on shares of DHT in a research note on Tuesday, October 15th. They set a “buy” rating and a $16.00 price target on the stock. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. Finally, StockNews.com lowered shares of DHT from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, DHT currently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

DHT Price Performance

Shares of DHT opened at $10.56 on Wednesday. The company has a 50 day moving average price of $11.02 and a 200-day moving average price of $11.37. DHT has a fifty-two week low of $9.28 and a fifty-two week high of $12.80. The stock has a market capitalization of $1.70 billion, a PE ratio of 10.06 and a beta of -0.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.33 and a current ratio of 2.87.

DHT (NYSE:DHT) last posted its quarterly earnings data on Monday, August 12th. The shipping company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $103.70 million for 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 was down 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 EPS. Equities analysts predict that DHT will post 1.14 earnings per share for the current fiscal year.

DHT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 10.23%. The ex-dividend date was Friday, August 23rd. DHT’s dividend payout ratio (DPR) is 102.86%.

Institutional Investors Weigh In On DHT

A number of hedge funds have recently modified their holdings of DHT. The Manufacturers Life Insurance Company increased its position in DHT by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 48,435 shares of the shipping company’s stock worth $560,000 after purchasing an additional 1,172 shares during the last quarter. ProShare Advisors LLC increased its position in shares of DHT by 7.2% during the first quarter. ProShare Advisors LLC now owns 24,358 shares of the shipping company’s stock valued at $280,000 after acquiring an additional 1,640 shares during the last quarter. MQS Management LLC increased its position in shares of DHT by 7.3% during the second quarter. MQS Management LLC now owns 24,423 shares of the shipping company’s stock valued at $283,000 after acquiring an additional 1,662 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of DHT by 52.2% during the third quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock valued at $76,000 after acquiring an additional 2,361 shares during the last quarter. Finally, Pinion Investment Advisors LLC increased its position in shares of DHT by 6.3% during the second quarter. Pinion Investment Advisors LLC now owns 46,643 shares of the shipping company’s stock valued at $540,000 after acquiring an additional 2,773 shares during the last quarter. 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.