DHT (NYSE:DHT) Stock Price Down 4% – Time to Sell?

DHT Holdings, Inc. (NYSE:DHT) traded down 4% during mid-day trading on Friday . The stock traded as low as $10.61 and last traded at $10.51. 193,412 shares were traded during mid-day trading, a decline of 91% from the average session volume of 2,165,887 shares. The stock had previously closed at $10.94.

Analyst Ratings Changes

Several brokerages have issued reports on DHT. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group restated a “buy” rating and set a $14.00 price objective on shares of DHT in a report on Wednesday, November 13th. Kepler Capital Markets downgraded shares of DHT from a “buy” rating to a “hold” rating and set a $9.70 price target for the company. in a research report on Thursday, December 12th. Stifel Nicolaus cut their price target on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.54.

DHT Trading Down 3.2 %

The company has a current ratio of 2.41, a quick ratio of 1.97 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average is $9.84 and its two-hundred day moving average is $10.59. The firm has a market cap of $1.71 billion, a P/E ratio of 10.56 and a beta of -0.38.

DHT (NYSE:DHT) last announced its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share for the quarter, topping 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 analysts’ expectations of $87.51 million. During the same period in the prior year, the firm earned $0.19 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, analysts expect that DHT Holdings, Inc. will post 1 earnings per share for the current fiscal year.

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 8.31%. The ex-dividend date was Friday, November 22nd. DHT’s dividend payout ratio (DPR) is 88.00%.

Institutional Investors Weigh In On DHT

Large investors have recently made changes to their positions in the company. Quarry LP grew 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 buying an additional 3,717 shares in the last quarter. Spire Wealth Management bought a new position in shares of DHT in the fourth quarter worth $36,000. Sunbelt Securities Inc. acquired a new position in shares of DHT during the third quarter valued at $50,000. Nisa Investment Advisors LLC raised its stake 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 purchasing an additional 2,361 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in DHT in the second quarter worth about $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.