BTIG Research Initiates Coverage on DHT (NYSE:DHT)

BTIG Research initiated coverage on shares of DHT (NYSE:DHT) in a research note published on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $16.00 price objective on the shipping company’s stock.

Several other analysts also recently weighed in on DHT. StockNews.com downgraded shares of DHT from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Stifel Nicolaus lifted their price target on shares of DHT from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

DHT Stock Up 0.5 %

Shares of NYSE DHT opened at $11.39 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.87 and a quick ratio of 2.33. The company has a market cap of $1.84 billion, a P/E ratio of 10.85 and a beta of -0.36. DHT has a 1 year low of $9.28 and a 1 year high of $12.80. The firm has a 50-day simple moving average of $11.06 and a two-hundred day simple moving average of $11.40.

DHT (NYSE:DHT) last announced its quarterly earnings data 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 firm had revenue of $103.70 million during the quarter, compared to the consensus estimate of $102.75 million. DHT had a return on equity of 15.19% and a net margin of 27.45%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 EPS. Research analysts anticipate that DHT will post 1.14 earnings per share for the current year.

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 9.48%. The ex-dividend date was Friday, August 23rd. DHT’s payout ratio is 102.86%.

Hedge Funds Weigh In On DHT

Several institutional investors and hedge funds have recently bought and sold shares of DHT. M&G Plc purchased a new position in DHT in the first quarter worth $16,417,000. Acadian Asset Management LLC grew its holdings in 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 purchasing an additional 1,032,832 shares during the last quarter. American Century Companies Inc. grew its holdings in 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 purchasing an additional 873,356 shares during the last quarter. Raymond James & Associates purchased a new stake in shares of DHT during the third quarter valued at $5,004,000. Finally, TrueMark Investments LLC purchased a new stake in shares of DHT during the second quarter valued at $4,371,000. 58.53% of the stock is owned by hedge funds and other institutional investors.

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.