DHT (NYSE:DHT) Hits New 12-Month Low – Here’s What Happened

DHT Holdings, Inc. (NYSE:DHT) reached a new 52-week low on Wednesday . The stock traded as low as $9.16 and last traded at $9.16, with a volume of 386734 shares. The stock had previously closed at $9.36.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. BTIG Research assumed coverage on DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price objective for the company. StockNews.com raised DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Kepler Capital Markets cut DHT from a “buy” rating to a “hold” rating and set a $9.70 price target for the company. in a report on Thursday. Fearnley Fonds raised DHT to a “strong-buy” rating in a report on Friday, September 27th. Finally, Stifel Nicolaus cut their price target on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Three 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.54.

DHT Stock Performance

The firm has a market capitalization of $1.46 billion, a P/E ratio of 8.93 and a beta of -0.37. The stock has a 50-day moving average of $10.46 and a 200 day moving average of $10.97. 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 posted 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 return on equity of 15.58% and a net margin of 27.72%. The firm had revenue of $92.64 million for the quarter, compared to the consensus estimate of $87.51 million. During the same quarter in the prior year, the business earned $0.19 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, research analysts anticipate that DHT Holdings, Inc. will post 1 earnings per share for the current year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 9.71%. The ex-dividend date was Friday, November 22nd. DHT’s dividend payout ratio (DPR) is currently 88.00%.

Institutional Trading of DHT

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP raised its stake in DHT by 2,494.6% during the 2nd quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after buying an additional 3,717 shares during the period. Sunbelt Securities Inc. bought a new position in DHT during the 3rd quarter worth about $50,000. Summit Securities Group LLC bought a new position in DHT during the 2nd quarter worth about $78,000. Nisa Investment Advisors LLC increased its holdings in DHT by 52.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock worth $76,000 after purchasing an additional 2,361 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in DHT during the 2nd quarter worth about $80,000. Institutional investors and hedge funds 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.