DHT (NYSE:DHT) Trading Up 5.8% – Here’s Why

DHT Holdings, Inc. (NYSE:DHT) shares were up 5.8% during trading on Tuesday . The company traded as high as $9.95 and last traded at $9.92. Approximately 2,865,460 shares were traded 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on DHT shares. Jefferies Financial Group restated a “buy” rating and issued a $14.00 target price on shares of DHT in a research note on Wednesday, November 13th. StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Stifel Nicolaus lowered their target price on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. 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. Finally, Fearnley Fonds raised DHT to a “strong-buy” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

DHT Trading Down 1.9 %

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.97 and a current ratio of 2.41. The company has a market cap of $1.57 billion, a P/E ratio of 9.71 and a beta of -0.37. The stock has a 50-day moving average of $10.70 and a two-hundred day moving average of $11.09.

DHT (NYSE:DHT) last posted its earnings results on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $92.64 million during the quarter, compared to analyst estimates of $87.51 million. DHT had a return on equity of 15.58% and a net margin of 27.72%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS. On average, equities research analysts predict that DHT Holdings, Inc. will post 1 earnings per share for the current year.

DHT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 22nd were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 9.06%. The ex-dividend date was Friday, November 22nd. DHT’s payout ratio is 88.00%.

Institutional Trading of DHT

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wasatch Advisors LP bought a new stake in shares of DHT in the third quarter worth $55,472,000. FMR LLC grew its holdings in shares of DHT by 10.0% in 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 during the period. Acadian Asset Management LLC grew its holdings in shares of DHT by 43.8% in the second quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock worth $39,184,000 after acquiring an additional 1,032,832 shares during the period. American Century Companies Inc. grew its holdings in shares of DHT by 43.8% in the second quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock worth $33,183,000 after acquiring an additional 873,356 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of DHT by 1,144.6% in the third quarter. International Assets Investment Management LLC now owns 678,808 shares of the shipping company’s stock worth $7,487,000 after acquiring an additional 624,266 shares during the period. Institutional investors own 58.53% of the company’s stock.

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.