DHT (NYSE:DHT) Trading 5.8% Higher – Here’s Why

Shares of DHT Holdings, Inc. (NYSE:DHT) were up 5.8% on Tuesday . The company traded as high as $9.95 and last traded at $9.92. Approximately 2,865,460 shares traded hands during trading, an increase of 57% from the average daily volume of 1,825,067 shares. The stock had previously closed at $9.38.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $14.00 target price on shares of DHT in a research note on Wednesday, November 13th. StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Stifel Nicolaus lowered their target price on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. Finally, BTIG Research started coverage on DHT in a research report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price on the stock. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, DHT has an average rating of “Moderate Buy” and an average target price of $14.50.

DHT Stock Up 5.5 %

The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 9.90 and a beta of -0.37. The stock’s fifty day simple moving average is $10.73 and its two-hundred day simple moving average is $11.11.

DHT (NYSE:DHT) last posted its earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. DHT had a net margin of 27.72% and a return on equity of 15.58%. The firm had revenue of $92.64 million during the quarter, compared to analyst estimates of $87.51 million. During the same period in the previous year, the business posted $0.19 EPS. DHT’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts predict that DHT Holdings, Inc. will post 1 earnings per share for the current fiscal year.

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 22nd were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 8.89%. The ex-dividend date was Friday, November 22nd. DHT’s payout ratio is presently 88.00%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Boston Partners increased its position in shares of DHT by 74.6% during the first quarter. Boston Partners now owns 163,512 shares of the shipping company’s stock valued at $1,880,000 after purchasing an additional 69,838 shares during the period. Vanguard Group Inc. raised its stake in shares of DHT by 15.2% in the 1st quarter. Vanguard Group Inc. now owns 998,097 shares of the shipping company’s stock valued at $11,478,000 after buying an additional 132,039 shares in the last quarter. Intech Investment Management LLC bought a new position in DHT in the 3rd quarter valued at $611,000. International Assets Investment Management LLC grew its holdings in shares of DHT by 1,144.6% during the third quarter. International Assets Investment Management LLC now owns 678,808 shares of the shipping company’s stock worth $7,487,000 after purchasing an additional 624,266 shares during the last quarter. Finally, Kingsview Wealth Management LLC bought a new position in shares of DHT in the third quarter valued at about $2,611,000. 58.53% of the stock is owned by institutional investors.

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.