DHT (NYSE:DHT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of DHT (NYSE:DHT) from a hold rating to a buy rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of DHT in a report on Wednesday, October 8th. Zacks Research raised shares of DHT to a “hold” rating in a research report on Monday, August 11th. Jefferies Financial Group restated a “buy” rating and issued a $16.00 target price on shares of DHT in a research note on Thursday, October 30th. BTIG Research reaffirmed a “buy” rating and issued a $16.00 target price on shares of DHT in a research report on Thursday, October 30th. Finally, Evercore ISI upped their price target on DHT from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.18.

DHT Price Performance

Shares of DHT opened at $13.62 on Friday. The firm has a market cap of $2.19 billion, a PE ratio of 10.98 and a beta of -0.01. DHT has a 52-week low of $8.67 and a 52-week high of $13.85. The business’s 50 day moving average price is $12.47 and its two-hundred day moving average price is $11.77. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.96 and a current ratio of 2.33.

DHT (NYSE:DHT) last announced its quarterly earnings data on Wednesday, October 29th. The shipping company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.17 by $0.11. DHT had a net margin of 41.17% and a return on equity of 17.18%. The company had revenue of $79.10 million during the quarter, compared to the consensus estimate of $78.83 million. During the same quarter last year, the firm posted $0.22 EPS. The company’s quarterly revenue was down 14.6% on a year-over-year basis. On average, equities analysts anticipate that DHT will post 0.94 EPS for the current year.

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Wednesday, November 12th. DHT’s dividend payout ratio (DPR) is currently 58.06%.

Hedge Funds Weigh In On DHT

Large investors have recently added to or reduced their stakes in the business. Roble Belko & Company Inc acquired a new position in DHT during the 2nd quarter valued at about $30,000. CWM LLC lifted its holdings in shares of DHT by 223.4% in the first quarter. CWM LLC now owns 3,063 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 2,116 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of DHT by 101.6% during the third quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock valued at $32,000 after buying an additional 1,368 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in DHT by 190.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock worth $33,000 after buying an additional 1,982 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in DHT by 344.1% during the second quarter. Farther Finance Advisors LLC now owns 3,162 shares of the shipping company’s stock worth $34,000 after buying an additional 2,450 shares in the last quarter. Institutional investors 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.