DHT (NYSE:DHT) Shares Gap Down to $11.31

DHT Holdings, Inc. (NYSE:DHT) gapped down before the market opened on Friday . The stock had previously closed at $11.31, but opened at $11.02. DHT shares last traded at $10.80, with a volume of 521,386 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com cut shares of DHT from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Stifel Nicolaus upped their price target on DHT from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.67.

DHT Trading Down 3.1 %

The stock’s 50 day moving average is $11.05 and its 200-day moving average is $11.38. The company has a market cap of $1.77 billion, a P/E ratio of 10.77 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 issued 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 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 company’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.35 EPS. Research analysts anticipate that DHT Holdings, Inc. will post 1.14 earnings per share for the current fiscal 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 given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.08 annualized dividend and a dividend yield of 9.85%. DHT’s dividend payout ratio (DPR) is presently 102.86%.

Institutional Trading of DHT

Large investors have recently made changes to their positions in the stock. Point72 DIFC Ltd grew its position in DHT by 66.4% in the 2nd quarter. Point72 DIFC Ltd now owns 11,237 shares of the shipping company’s stock worth $130,000 after purchasing an additional 4,485 shares during the period. Granite Bay Wealth Management LLC purchased a new position in shares of DHT in the 2nd quarter worth $155,000. Truist Financial Corp bought a new stake in shares of DHT in the second quarter worth $460,000. Point72 Asset Management L.P. purchased a new stake in DHT during the second quarter valued at $456,000. Finally, Quarry LP grew 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 valued at $45,000 after purchasing an additional 3,717 shares during the period. 58.53% of the stock is currently owned by institutional investors.

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.