DHT (NYSE:DHT) Raised to Hold at StockNews.com

StockNews.com upgraded shares of DHT (NYSE:DHT) from a sell rating to a hold rating in a research note issued to investors on Thursday.

Several other equities analysts have also recently issued reports on the company. Fearnley Fonds upgraded DHT to a “strong-buy” rating in a report on Friday, September 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $14.00 target price on shares of DHT in a research note on Wednesday. Stifel Nicolaus dropped their price target on shares of DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Finally, BTIG Research initiated coverage on shares of DHT in a research note on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, DHT presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

DHT Trading Down 3.2 %

Shares of DHT stock opened at $10.45 on Thursday. The company has a quick ratio of 2.33, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $1.69 billion, a P/E ratio of 10.45 and a beta of -0.36. DHT has a 12-month low of $9.28 and a 12-month high of $12.80. The firm has a 50-day moving average price of $10.92 and a 200 day moving average price of $11.27.

DHT (NYSE:DHT) last released its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $92.64 million for the quarter, compared to analyst estimates 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. Research analysts forecast that DHT will post 1 earnings per share for the current fiscal year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 22nd will be paid a $0.22 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 8.42%. DHT’s dividend payout ratio (DPR) is presently 88.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DHT. Quarry LP boosted its position in shares of DHT by 2,494.6% during the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after purchasing an additional 3,717 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of DHT in the 1st quarter valued at $51,000. Nisa Investment Advisors LLC raised its stake in DHT by 52.2% during the 3rd 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 period. Summit Securities Group LLC bought a new position in DHT during the second quarter worth about $78,000. Finally, Point72 Hong Kong Ltd acquired a new position in DHT in the second quarter valued at about $80,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

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.