DHT (NYSE:DHT) Trading Down 3.7% Following Analyst Downgrade

DHT Holdings, Inc. (NYSE:DHT)’s stock price was down 3.7% during trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $13.00 to $11.00. Stifel Nicolaus currently has a hold rating on the stock. DHT traded as low as $10.36 and last traded at $10.47. Approximately 597,248 shares changed hands during trading, a decline of 68% from the average daily volume of 1,842,532 shares. The stock had previously closed at $10.87.

Several other brokerages have also commented on DHT. BTIG Research started coverage on shares of DHT in a report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price objective for the company. StockNews.com lowered shares of DHT from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Finally, Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, DHT has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Institutional Trading of DHT

Several institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC grew its position in DHT by 43.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock valued at $39,184,000 after purchasing an additional 1,032,832 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of DHT by 43.8% during 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 acquiring an additional 873,356 shares during the last quarter. LSV Asset Management boosted its holdings in shares of DHT by 28.8% during the 2nd quarter. LSV Asset Management now owns 1,534,614 shares of the shipping company’s stock valued at $17,755,000 after acquiring an additional 343,100 shares during the last quarter. M&G Plc purchased a new stake in shares of DHT during the 1st quarter valued at about $16,417,000. Finally, Vanguard Group Inc. boosted its holdings in shares of DHT by 15.2% during the 1st quarter. Vanguard Group Inc. now owns 998,097 shares of the shipping company’s stock valued at $11,478,000 after acquiring an additional 132,039 shares during the last quarter. 58.53% of the stock is owned by hedge funds and other institutional investors.

DHT Stock Performance

The business’s fifty day moving average price is $11.03 and its 200-day moving average price is $11.37. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.33 and a current ratio of 2.87. The stock has a market cap of $1.70 billion, a PE ratio of 10.01 and a beta of -0.36.

DHT (NYSE:DHT) last announced its quarterly earnings results on Monday, August 12th. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $103.70 million for the quarter, compared to analysts’ expectations of $102.75 million. DHT had a net margin of 27.45% and a return on equity of 15.19%. The business’s revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 EPS. As a group, equities research analysts forecast that DHT Holdings, Inc. will post 1.14 EPS for the current fiscal year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 10.28%. The ex-dividend date was Friday, August 23rd. DHT’s payout ratio is presently 102.86%.

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.