DHT (NYSE:DHT) PT Lowered to $11.00

DHT (NYSE:DHT) had its price target reduced by Stifel Nicolaus from $13.00 to $11.00 in a research note released on Wednesday, Benzinga reports. They currently have a hold rating on the shipping company’s stock.

A number of other analysts have also commented on the company. StockNews.com lowered DHT from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. BTIG Research initiated coverage on shares of DHT in a report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Fearnley Fonds raised DHT to a “strong-buy” rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.50.

DHT Price Performance

Shares of NYSE:DHT opened at $10.38 on Wednesday. DHT has a one year low of $9.28 and a one year high of $12.80. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.87 and a quick ratio of 2.33. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 9.88 and a beta of -0.36. The firm has a 50 day simple moving average of $11.05 and a 200 day simple moving average of $11.38.

DHT (NYSE:DHT) last announced its quarterly earnings results on Monday, August 12th. The shipping company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $103.70 million during the quarter, compared to the consensus estimate of $102.75 million. DHT had a net margin of 27.45% and a return on equity of 15.19%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.35 earnings per share. Research analysts predict that DHT will post 1.14 earnings per share for the current fiscal year.

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 10.41%. The ex-dividend date of this dividend was Friday, August 23rd. DHT’s dividend payout ratio is currently 102.86%.

Hedge Funds Weigh In On DHT

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in DHT by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,435 shares of the shipping company’s stock worth $560,000 after acquiring an additional 1,172 shares during the period. ProShare Advisors LLC boosted its position in shares of DHT by 7.2% during the 1st quarter. ProShare Advisors LLC now owns 24,358 shares of the shipping company’s stock valued at $280,000 after purchasing an additional 1,640 shares in the last quarter. MQS Management LLC boosted its position in shares of DHT by 7.3% during the 2nd quarter. MQS Management LLC now owns 24,423 shares of the shipping company’s stock valued at $283,000 after purchasing an additional 1,662 shares in the last quarter. Pinion Investment Advisors LLC grew its stake in DHT by 6.3% during the second quarter. Pinion Investment Advisors LLC now owns 46,643 shares of the shipping company’s stock worth $540,000 after purchasing an additional 2,773 shares during the period. Finally, Quarry LP increased its holdings in DHT by 2,494.6% in 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 in the last quarter. Institutional investors 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.