DHT (NYSE:DHT) Upgraded by StockNews.com to Hold Rating

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

A number of other equities analysts also recently weighed in on DHT. Jefferies Financial Group reaffirmed a “buy” rating and issued a $14.00 price target on shares of DHT in a research note on Wednesday. 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. Stifel Nicolaus cut their price target on 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 raised DHT to a “strong-buy” rating in a research note on Friday, September 27th. Two 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

DHT Stock Down 2.3 %

Shares of DHT stock traded down $0.25 during midday trading on Thursday, hitting $10.55. The company’s stock had a trading volume of 582,519 shares, compared to its average volume of 1,823,841. DHT has a 1-year low of $9.28 and a 1-year high of $12.80. 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 firm has a market capitalization of $1.70 billion, a P/E ratio of 10.80 and a beta of -0.36. The stock has a 50-day simple moving average of $10.92 and a 200-day simple moving average of $11.28.

DHT (NYSE:DHT) last announced its quarterly earnings data 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 firm had revenue of $92.64 million during 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%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.19 EPS. As a group, sell-side analysts expect that DHT will post 1 earnings per share for the current year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 22nd will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 8.34%. DHT’s dividend payout ratio is currently 108.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DHT. Quarry LP raised its holdings in DHT by 2,494.6% in the 2nd quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after acquiring an additional 3,717 shares during the period. Headlands Technologies LLC bought a new position in DHT during the first quarter worth $51,000. Summit Securities Group LLC bought a new stake in DHT in the 2nd quarter valued at $78,000. Nisa Investment Advisors LLC raised 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 valued at $76,000 after buying an additional 2,361 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in DHT in the 2nd quarter valued at approximately $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.