DHT (NYSE:DHT) Trading Up 5.4% – Time to Buy?

DHT Holdings, Inc. (NYSE:DHT) shares rose 5.4% during mid-day trading on Friday . The stock traded as high as $10.88 and last traded at $10.59. Approximately 519,896 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 1,477,855 shares. The stock had previously closed at $10.05.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DHT shares. Jefferies Financial Group reiterated a “buy” rating and issued a $14.00 target price on shares of DHT in a report on Wednesday, November 13th. Kepler Capital Markets cut shares of DHT from a “buy” rating to a “hold” rating and set a $9.70 target price for the company. in a research report on Thursday, December 12th. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, BTIG Research started coverage on DHT in a research note on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price on the stock. Three 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. Based on data from MarketBeat, DHT currently has an average rating of “Moderate Buy” and a consensus target price of $13.54.

DHT Stock Up 6.7 %

The stock has a market capitalization of $1.73 billion, a PE ratio of 10.72 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. The business’s fifty day moving average price is $9.75 and its two-hundred day moving average price is $10.62.

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

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 8.21%. The ex-dividend date of this dividend was Friday, November 22nd. DHT’s payout ratio is 88.00%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Quarry LP boosted 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 valued at $45,000 after purchasing an additional 3,717 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of DHT in the third quarter worth about $50,000. Nisa Investment Advisors LLC grew its holdings in 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 period. Point72 Hong Kong Ltd purchased a new position in DHT during the second quarter valued at approximately $80,000. Finally, Soros Fund Management LLC acquired a new position in DHT in the third quarter valued at approximately $114,000. Hedge funds and other 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.