DHT (NYSE:DHT) Upgraded to “Strong-Buy” at Fearnley Fonds

Fearnley Fonds upgraded shares of DHT (NYSE:DHT) to a strong-buy rating in a report published on Friday, Zacks.com reports.

Several other research firms have also weighed in on DHT. Stifel Nicolaus boosted their target price on DHT from $12.00 to $13.00 and gave the stock a hold rating in a report on Wednesday, July 24th. StockNews.com lowered DHT from a hold rating to a sell rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $14.67.

DHT Stock Down 0.4 %

Shares of DHT stock opened at $11.03 on Friday. The stock has a 50-day simple moving average of $11.00 and a 200-day simple moving average of $11.38. DHT has a 52-week low of $9.28 and a 52-week high of $12.80. 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 firm has a market cap of $1.78 billion, a price-to-earnings ratio of 10.50 and a beta of -0.36.

DHT (NYSE:DHT) last posted its earnings results on Monday, August 12th. The shipping company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). DHT had a return on equity of 15.19% and a net margin of 27.45%. The company had revenue of $103.70 million during the quarter, compared to analyst estimates of $102.75 million. During the same quarter last year, the firm posted $0.35 earnings per share. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, equities research analysts expect that DHT will post 1.14 earnings per share for the current fiscal year.

DHT Cuts Dividend

The firm 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. The ex-dividend date was Friday, August 23rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 9.79%. DHT’s dividend payout ratio (DPR) is presently 102.86%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DHT. Campbell & CO Investment Adviser LLC acquired a new position in shares of DHT during the fourth quarter worth approximately $480,000. Seven Eight Capital LP lifted its holdings in shares of DHT by 73.6% during the fourth quarter. Seven Eight Capital LP now owns 153,600 shares of the shipping company’s stock worth $1,507,000 after buying an additional 65,129 shares during the last quarter. Greenlight Capital Inc. lifted its holdings in shares of DHT by 86.7% during the fourth quarter. Greenlight Capital Inc. now owns 3,779,880 shares of the shipping company’s stock worth $37,081,000 after buying an additional 1,755,060 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of DHT by 23.4% during the first quarter. International Assets Investment Management LLC now owns 57,542 shares of the shipping company’s stock worth $677,000 after buying an additional 10,911 shares during the last quarter. Finally, GoalVest Advisory LLC lifted its holdings in shares of DHT by 6.3% during the first quarter. GoalVest Advisory LLC now owns 104,467 shares of the shipping company’s stock worth $1,201,000 after buying an additional 6,218 shares during the last quarter. 58.53% of the stock is currently owned by institutional investors and hedge funds.

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.