Glenorchy Capital Ltd Invests $2.68 Million in DHT Holdings, Inc. (NYSE:DHT)

Glenorchy Capital Ltd acquired a new position in DHT Holdings, Inc. (NYSE:DHT) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 273,563 shares of the shipping company’s stock, valued at approximately $2,684,000. DHT accounts for approximately 1.0% of Glenorchy Capital Ltd’s portfolio, making the stock its 12th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in DHT. McIlrath & Eck LLC bought a new stake in shares of DHT in the 3rd quarter valued at $52,000. CWM LLC boosted its position in DHT by 3,696.2% during the third quarter. CWM LLC now owns 6,985 shares of the shipping company’s stock worth $72,000 after purchasing an additional 6,801 shares during the period. Allspring Global Investments Holdings LLC boosted its position in DHT by 45.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,178 shares of the shipping company’s stock worth $95,000 after purchasing an additional 2,882 shares during the period. Granite Bay Wealth Management LLC purchased a new stake in shares of DHT in the fourth quarter worth about $111,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of DHT in the third quarter worth about $120,000. 58.53% of the stock is currently owned by institutional investors and hedge funds.

DHT Trading Up 1.2 %

DHT traded up $0.13 during trading on Tuesday, reaching $11.33. The company had a trading volume of 1,209,259 shares, compared to its average volume of 1,834,056. The stock has a market cap of $1.83 billion, a P/E ratio of 11.45 and a beta of -0.33. The business has a 50 day simple moving average of $11.23 and a 200-day simple moving average of $10.75. DHT Holdings, Inc. has a 52 week low of $7.30 and a 52 week high of $11.95. The company has a quick ratio of 2.94, a current ratio of 3.54 and a debt-to-equity ratio of 0.39.

DHT (NYSE:DHT) last posted its earnings results on Tuesday, February 6th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $94.50 million for the quarter, compared to analyst estimates of $95.78 million. DHT had a return on equity of 15.52% and a net margin of 28.78%. The firm’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, equities analysts anticipate that DHT Holdings, Inc. will post 1.56 EPS for the current fiscal year.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 21st were paid a dividend of $0.22 per share. This is a positive change from DHT’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a dividend yield of 7.77%. The ex-dividend date of this dividend was Tuesday, February 20th. DHT’s dividend payout ratio is presently 88.89%.

Analyst Ratings Changes

Several research firms have commented on DHT. TheStreet raised shares of DHT from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Jefferies Financial Group raised DHT from a “hold” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $14.00 in a research report on Thursday, March 21st. Finally, Truist Financial upped their target price on shares of DHT from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

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.