DHT (NYSE:DHT) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of DHT (NYSE:DHT) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Other equities research analysts also recently issued research reports about the company. Fearnley Fonds upgraded DHT to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group reissued a “buy” rating and set a $14.00 price objective on shares of DHT in a report on Wednesday. Stifel Nicolaus reduced their target price on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. Finally, 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 for the company. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, DHT currently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

DHT Price Performance

NYSE:DHT traded down $0.25 during mid-day trading on Thursday, reaching $10.55. 582,519 shares of the company were exchanged, compared to its average volume of 1,823,841. The company has a quick ratio of 2.33, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The stock has a market cap of $1.70 billion, a PE ratio of 10.80 and a beta of -0.36. DHT has a 12 month low of $9.28 and a 12 month high of $12.80. The company has a fifty day moving average of $10.92 and a 200 day moving average of $11.28.

DHT (NYSE:DHT) last released its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, beating 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 business had revenue of $92.64 million for the quarter, compared to analysts’ expectations of $87.51 million. During the same period in the prior year, the firm earned $0.19 earnings per share. DHT’s revenue was up 4.0% compared to the same quarter last year. On average, research analysts anticipate that DHT will post 1 EPS for the current fiscal year.

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.88 annualized dividend and a dividend yield of 8.34%. DHT’s payout ratio is currently 108.00%.

Institutional Investors Weigh In On DHT

Hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP acquired a new stake in DHT during the 3rd quarter worth $55,472,000. FMR LLC raised 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 worth $266,849,000 after purchasing an additional 2,195,916 shares during the period. M&G Plc bought a new position in shares of DHT during the 1st quarter valued at about $16,417,000. Acadian Asset Management LLC grew its position in shares of DHT by 43.8% in the 2nd quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock valued at $39,184,000 after purchasing an additional 1,032,832 shares during the period. Finally, American Century Companies Inc. grew its position in shares of 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. 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.