DHT (NYSE:DHT) Upgraded to Strong-Buy at Fearnley Fonds

Fearnley Fonds upgraded shares of DHT (NYSE:DHT) to a strong-buy rating in a research report released on Friday, Zacks.com reports.

DHT has been the topic of a number of other reports. Stifel Nicolaus lifted their price objective on shares of DHT from $12.00 to $13.00 and gave the company a hold rating in a report on Wednesday, July 24th. StockNews.com cut DHT from a hold rating to a sell rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $14.67.

DHT Price Performance

Shares of NYSE DHT opened at $11.03 on Friday. The company has a fifty day moving average price of $11.00 and a 200 day moving average price of $11.38. DHT has a 1-year low of $9.28 and a 1-year high of $12.80. The firm has a market cap of $1.78 billion, a PE ratio of 10.50 and a beta of -0.36. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36.

DHT (NYSE:DHT) last posted its quarterly earnings data on Monday, August 12th. The shipping company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $103.70 million for the quarter, compared to analyst estimates of $102.75 million. DHT had a return on equity of 15.19% and a net margin of 27.45%. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 earnings per share. Research analysts predict that DHT will post 1.14 earnings per share for the current fiscal year.

DHT Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were issued a $0.27 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 9.79%. DHT’s payout ratio is 102.86%.

Hedge Funds Weigh In On DHT

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP lifted its position in shares of DHT by 2,494.6% in the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock valued at $45,000 after buying an additional 3,717 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of DHT in the first quarter valued at $51,000. Summit Securities Group LLC acquired a new position in shares of DHT in the second quarter valued at $78,000. Point72 Hong Kong Ltd bought a new position in shares of DHT in the second quarter valued at about $80,000. Finally, Blue Trust Inc. lifted its position in DHT by 41,626.3% during the second quarter. Blue Trust Inc. now owns 7,928 shares of the shipping company’s stock worth $91,000 after acquiring an additional 7,909 shares during the last quarter. Institutional investors 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.