DHT (NYSE:DHT) Shares Gap Down – Should You Sell?

DHT Holdings, Inc. (NYSE:DHT) gapped down prior to trading on Tuesday . The stock had previously closed at $11.09, but opened at $10.85. DHT shares last traded at $10.96, with a volume of 293,527 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DHT shares. BTIG Research started coverage on DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price objective on the stock. StockNews.com raised DHT from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Kepler Capital Markets lowered DHT from a “buy” rating to a “hold” rating and set a $9.70 price objective on the stock. in a research report on Thursday, December 12th. Stifel Nicolaus lowered their target price 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, Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.54.

DHT Stock Performance

The stock’s 50-day moving average is $9.81 and its 200 day moving average is $10.61. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 11.17 and a beta of -0.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97.

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

DHT Cuts Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 7.88%. The ex-dividend date of this dividend was Friday, November 22nd. DHT’s payout ratio is currently 88.00%.

Hedge Funds Weigh In On DHT

A number of institutional investors have recently modified their holdings of DHT. Quarry LP boosted its holdings 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 during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of DHT during the third quarter worth about $50,000. Nisa Investment Advisors LLC increased its position in shares of DHT by 52.2% during the third quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock worth $76,000 after acquiring an additional 2,361 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of DHT during the second quarter worth about $80,000. Finally, Soros Fund Management LLC purchased a new stake in shares of DHT during the third quarter worth about $114,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

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.