Jefferies Financial Group Reaffirms Buy Rating for DHT (NYSE:DHT)

Jefferies Financial Group reiterated their buy rating on shares of DHT (NYSE:DHT) in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a $14.00 target price on the shipping company’s stock.

Several other analysts have also recently commented on the stock. BTIG Research began coverage on shares of DHT in a research note on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price for the company. Fearnley Fonds raised DHT to a “strong-buy” rating in a research report on Friday, September 27th. Stifel Nicolaus reduced 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. Finally, StockNews.com cut DHT from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.50.

DHT Stock Performance

NYSE DHT opened at $10.45 on Wednesday. The company has a quick ratio of 2.33, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. DHT has a fifty-two week low of $9.28 and a fifty-two week high of $12.80. The business has a fifty day moving average of $10.92 and a 200-day moving average of $11.27. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 10.45 and a beta of -0.36.

DHT (NYSE:DHT) last announced its earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $92.64 million during the quarter, compared to the consensus estimate of $87.51 million. DHT had a net margin of 27.72% and a return on equity of 15.58%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 EPS. As a group, analysts predict that DHT will post 1 earnings per share for the current fiscal year.

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.88 annualized dividend and a yield of 8.42%. DHT’s dividend payout ratio is presently 88.00%.

Hedge Funds Weigh In On DHT

Several hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in DHT by 8.7% during the first quarter. Russell Investments Group Ltd. now owns 619,634 shares of the shipping company’s stock valued at $7,126,000 after buying an additional 49,657 shares in the last quarter. Boston Partners boosted its position in DHT by 74.6% during the 1st quarter. Boston Partners now owns 163,512 shares of the shipping company’s stock worth $1,880,000 after purchasing an additional 69,838 shares during the period. SG Americas Securities LLC acquired a new stake in DHT in the 1st quarter valued at $1,602,000. M&G Plc purchased a new position in DHT in the first quarter valued at about $16,417,000. Finally, Vanguard Group Inc. lifted its stake in shares of DHT by 15.2% during the first quarter. Vanguard Group Inc. now owns 998,097 shares of the shipping company’s stock worth $11,478,000 after purchasing an additional 132,039 shares in the last quarter. 58.53% of the stock is owned by institutional investors and hedge funds.

About DHT

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.