Charles Schwab Investment Management Inc. Cuts Stake in DHT Holdings, Inc. (NYSE:DHT)

Charles Schwab Investment Management Inc. reduced its holdings in shares of DHT Holdings, Inc. (NYSE:DHT) by 27.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 724,540 shares of the shipping company’s stock after selling 269,465 shares during the period. Charles Schwab Investment Management Inc.’s holdings in DHT were worth $7,992,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DHT. Quarry LP boosted its stake in shares of DHT by 2,494.6% during the 2nd quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after purchasing an additional 3,717 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of DHT by 52.2% in the third quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock worth $76,000 after buying an additional 2,361 shares during the last quarter. Summit Securities Group LLC acquired a new position in DHT in the second quarter worth $78,000. Point72 Hong Kong Ltd acquired a new position in shares of DHT during the second quarter valued at $80,000. Finally, Blue Trust Inc. boosted its holdings in shares of DHT by 41,626.3% during the second quarter. Blue Trust Inc. now owns 7,928 shares of the shipping company’s stock valued at $91,000 after acquiring an additional 7,909 shares during the period. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on DHT. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $14.00 target price on shares of DHT in a report on Wednesday, November 13th. Stifel Nicolaus lowered their price target on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. BTIG Research started coverage on DHT in a report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price target for the company. Finally, StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.50.

DHT Trading Down 1.7 %

Shares of DHT stock opened at $9.36 on Wednesday. The company has a quick ratio of 1.97, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The stock has a market cap of $1.51 billion, a P/E ratio of 9.36 and a beta of -0.37. DHT Holdings, Inc. has a 12-month low of $9.23 and a 12-month high of $12.80. The business’s 50 day moving average is $10.57 and its 200-day moving average is $10.99.

DHT (NYSE:DHT) last announced its quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The business had revenue of $92.64 million during the quarter, compared to the consensus estimate of $87.51 million. DHT had a return on equity of 15.58% and a net margin of 27.72%. DHT’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 EPS. Equities research analysts predict that DHT Holdings, Inc. will post 1 earnings per share for the current fiscal year.

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 9.41%. DHT’s dividend payout ratio is presently 88.00%.

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.