Geode Capital Management LLC Grows Stake in DHT Holdings, Inc. (NYSE:DHT)

Geode Capital Management LLC grew its holdings in shares of DHT Holdings, Inc. (NYSE:DHT) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,657,699 shares of the shipping company’s stock after purchasing an additional 5,603 shares during the quarter. Geode Capital Management LLC’s holdings in DHT were worth $15,400,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DHT. Victory Capital Management Inc. raised its stake in DHT by 1,367.3% in the fourth quarter. Victory Capital Management Inc. now owns 503,869 shares of the shipping company’s stock valued at $4,681,000 after buying an additional 469,528 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of DHT by 13.1% during the fourth quarter. American Century Companies Inc. now owns 4,053,584 shares of the shipping company’s stock valued at $37,658,000 after acquiring an additional 468,281 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of DHT in the 4th quarter valued at approximately $4,148,000. Arrowstreet Capital Limited Partnership raised its position in shares of DHT by 78.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 743,379 shares of the shipping company’s stock valued at $6,906,000 after purchasing an additional 327,442 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in DHT in the 4th quarter worth approximately $2,835,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upped their price target on shares of DHT from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.68.

DHT Trading Up 3.2 %

DHT stock opened at $10.41 on Monday. DHT Holdings, Inc. has a 52 week low of $8.67 and a 52 week high of $12.80. The stock has a 50-day moving average price of $10.51 and a 200 day moving average price of $10.43. The company has a quick ratio of 1.50, a current ratio of 1.84 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 9.29 and a beta of -0.06.

DHT (NYSE:DHT) last released its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.22 by $0.12. DHT had a net margin of 31.72% and a return on equity of 17.42%. Sell-side analysts anticipate that DHT Holdings, Inc. will post 0.94 EPS for the current year.

DHT Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend was Tuesday, February 18th. DHT’s payout ratio is 60.71%.

DHT 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.