DHT (NYSE:DHT) Trading 5.3% Higher – Here’s What Happened

DHT Holdings, Inc. (NYSE:DHT)’s stock price rose 5.3% on Monday . The stock traded as high as $9.96 and last traded at $9.95. Approximately 433,375 shares were traded during trading, a decline of 76% from the average daily volume of 1,826,223 shares. The stock had previously closed at $9.45.

Analyst Upgrades and Downgrades

DHT has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of DHT from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Kepler Capital Markets cut DHT from a “buy” rating to a “hold” rating and set a $9.70 price target on the stock. in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, DHT presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.68.

DHT Stock Performance

The company has a quick ratio of 1.50, a current ratio of 1.84 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.64 billion, a PE ratio of 9.10 and a beta of -0.06. The firm’s 50-day moving average price is $10.80 and its two-hundred day moving average price is $10.50.

DHT (NYSE:DHT) last announced its earnings results on Wednesday, February 5th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.12. DHT had a net margin of 31.72% and a return on equity of 17.42%. As a group, research analysts predict that DHT Holdings, Inc. will post 0.94 earnings per share for the current fiscal year.

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 6.67%. The ex-dividend date was Tuesday, February 18th. DHT’s dividend payout ratio is currently 60.71%.

Hedge Funds Weigh In On DHT

A number of large investors have recently made changes to their positions in DHT. Barclays PLC grew its position in DHT by 229.4% during the third quarter. Barclays PLC now owns 188,899 shares of the shipping company’s stock valued at $2,083,000 after purchasing an additional 131,551 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of DHT during the 4th quarter valued at $1,387,000. Victory Capital Management Inc. increased its stake in shares of DHT by 1,367.3% in the fourth quarter. Victory Capital Management Inc. now owns 503,869 shares of the shipping company’s stock worth $4,681,000 after acquiring an additional 469,528 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of DHT during the fourth quarter worth $4,148,000. Finally, Sanctuary Advisors LLC acquired a new stake in DHT during the third quarter valued at $134,000. 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.