Point72 DIFC Ltd Boosts Position in DHT Holdings, Inc. (NYSE:DHT)

Point72 DIFC Ltd grew its position in DHT Holdings, Inc. (NYSE:DHT) by 66.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 11,237 shares of the shipping company’s stock after purchasing an additional 4,485 shares during the period. Point72 DIFC Ltd’s holdings in DHT were worth $130,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP lifted its stake in DHT by 2,494.6% in the 2nd quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock valued at $45,000 after buying an additional 3,717 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of DHT in the first quarter valued at $51,000. Summit Securities Group LLC acquired a new stake in shares of DHT during the second quarter valued at $78,000. Point72 Hong Kong Ltd purchased a new stake in DHT during the 2nd quarter worth about $80,000. Finally, Blue Trust Inc. raised its stake in DHT by 41,626.3% in the 2nd quarter. Blue Trust Inc. now owns 7,928 shares of the shipping company’s stock valued at $91,000 after purchasing an additional 7,909 shares during the last quarter. Institutional investors and hedge funds own 58.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DHT. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. StockNews.com downgraded shares of DHT from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Finally, Stifel Nicolaus lifted their target price on shares of DHT from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.67.

DHT Stock Up 1.7 %

Shares of NYSE:DHT opened at $11.22 on Wednesday. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 10.69 and a beta of -0.36. The stock’s 50-day moving average price is $11.00 and its two-hundred day moving average price is $11.38. DHT Holdings, Inc. has a 12-month low of $9.28 and a 12-month high of $12.80.

DHT (NYSE:DHT) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $102.75 million. During the same quarter in the previous year, the company earned $0.35 earnings per share. The company’s revenue was down 8.2% on a year-over-year basis. On average, research analysts forecast that DHT Holdings, Inc. will post 1.14 EPS for the current year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 9.63%. DHT’s dividend payout ratio (DPR) 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.