DHT (NYSE:DHT) PT Raised to $13.00

DHT (NYSE:DHT) had its target price raised by Stifel Nicolaus from $12.00 to $13.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the shipping company’s stock.

DHT Price Performance

DHT stock opened at $11.54 on Wednesday. The company has a market capitalization of $1.86 billion, a P/E ratio of 10.99 and a beta of -0.35. DHT has a twelve month low of $8.60 and a twelve month high of $12.80. The business has a 50 day simple moving average of $11.60 and a 200-day simple moving average of $11.38. The company has a current ratio of 3.30, a quick ratio of 2.69 and a debt-to-equity ratio of 0.35.

DHT (NYSE:DHT) last posted its quarterly earnings data on Tuesday, May 14th. The shipping company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). The firm had revenue of $106.30 million during the quarter, compared to analyst estimates of $106.87 million. DHT had a net margin of 29.58% and a return on equity of 16.34%. DHT’s revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 earnings per share. As a group, equities analysts anticipate that DHT will post 1.22 EPS for the current year.

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 24th were issued a $0.29 dividend. This is an increase from DHT’s previous quarterly dividend of $0.22. This represents a $1.16 annualized dividend and a dividend yield of 10.05%. The ex-dividend date was Thursday, May 23rd. DHT’s dividend payout ratio is presently 110.48%.

Institutional Investors Weigh In On DHT

Several large investors have recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of DHT in the second quarter valued at approximately $78,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of DHT during the second quarter worth $376,000. Bank of New York Mellon Corp lifted its holdings in shares of DHT by 12.4% during the second quarter. Bank of New York Mellon Corp now owns 466,751 shares of the shipping company’s stock worth $5,400,000 after purchasing an additional 51,522 shares during the period. Blue Trust Inc. lifted its holdings in shares of DHT by 41,626.3% during the second quarter. Blue Trust Inc. now owns 7,928 shares of the shipping company’s stock worth $91,000 after purchasing an additional 7,909 shares during the period. Finally, Redhawk Wealth Advisors Inc. lifted its holdings in shares of DHT by 6.2% during the second quarter. Redhawk Wealth Advisors Inc. now owns 70,308 shares of the shipping company’s stock worth $813,000 after purchasing an additional 4,081 shares during the period. 58.53% of the stock is owned by institutional investors and hedge funds.

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.