DHT (NYSE:DHT) Stock Price Up 2.9%

DHT Holdings, Inc. (NYSE:DHT) shares shot up 2.9% on Thursday . The stock traded as high as $11.84 and last traded at $11.81. 571,609 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 1,875,231 shares. The stock had previously closed at $11.48.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DHT. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. StockNews.com lowered DHT from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Finally, Stifel Nicolaus increased their price target on DHT from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.67.

DHT Trading Up 5.0 %

The company has a 50-day moving average price of $10.98 and a 200-day moving average price of $11.38. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 10.93 and a beta of -0.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.33 and a current ratio of 2.87.

DHT (NYSE:DHT) last released its earnings results on Monday, August 12th. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business 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 business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 EPS. As a group, research analysts forecast that DHT Holdings, Inc. will post 1.14 EPS for the current fiscal year.

DHT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 8.96%. The ex-dividend date of this dividend was Friday, August 23rd. DHT’s dividend payout ratio is currently 102.86%.

Hedge Funds Weigh In On DHT

A number of institutional investors have recently made changes to their positions in the business. Greenlight Capital Inc. lifted its stake in shares of DHT by 86.7% in the 4th quarter. Greenlight Capital Inc. now owns 3,779,880 shares of the shipping company’s stock worth $37,081,000 after acquiring an additional 1,755,060 shares during the period. Acadian Asset Management LLC increased its position in DHT by 43.8% in the 2nd quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock worth $39,184,000 after purchasing an additional 1,032,832 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of DHT by 43.8% in the 2nd quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock valued at $33,183,000 after purchasing an additional 873,356 shares during the last quarter. LSV Asset Management lifted its position in shares of DHT by 28.8% in the second quarter. LSV Asset Management now owns 1,534,614 shares of the shipping company’s stock worth $17,755,000 after buying an additional 343,100 shares during the last quarter. Finally, M&G Plc bought a new position in shares of DHT in the first quarter worth about $16,417,000. 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.