DHT (NYSE:DHT) Stock Price Down 2.7% – Time to Sell?

DHT Holdings, Inc. (NYSE:DHT)’s stock price traded down 2.7% on Monday . The stock traded as low as $10.25 and last traded at $10.32. 378,560 shares traded hands during trading, a decline of 80% from the average session volume of 1,859,080 shares. The stock had previously closed at $10.60.

Analyst Upgrades and Downgrades

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

DHT Trading Down 2.7 %

The business has a 50-day moving average of $10.63 and a 200 day moving average of $10.47. The stock has a market cap of $1.66 billion, a PE ratio of 9.21 and a beta of -0.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.84.

DHT (NYSE:DHT) last issued its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. DHT had a net margin of 31.72% and a return on equity of 17.42%. Equities research analysts predict that DHT Holdings, Inc. will post 0.94 EPS for the current fiscal 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. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.68 annualized dividend and a yield of 6.60%. DHT’s dividend payout ratio (DPR) is presently 60.71%.

Institutional Investors Weigh In On DHT

Several hedge funds have recently made changes to their positions in the business. DME Capital Management LP lifted its position in DHT by 20.8% during the fourth quarter. DME Capital Management LP now owns 5,245,984 shares of the shipping company’s stock worth $48,735,000 after buying an additional 902,704 shares during the period. Bridgeway Capital Management LLC acquired a new position in shares of DHT during the 4th quarter valued at about $8,126,000. Victory Capital Management Inc. lifted its holdings in shares of DHT by 1,367.3% during the 4th quarter. Victory Capital Management Inc. now owns 503,869 shares of the shipping company’s stock worth $4,681,000 after acquiring an additional 469,528 shares during the period. American Century Companies Inc. boosted its position in shares of DHT by 13.1% in the fourth quarter. American Century Companies Inc. now owns 4,053,584 shares of the shipping company’s stock worth $37,658,000 after acquiring an additional 468,281 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in DHT in the fourth quarter valued at approximately $4,148,000. 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.