DHT (NYSE:DHT) Reaches New 12-Month High – Here’s Why

DHT Holdings, Inc. (NYSE:DHT) shares hit a new 52-week high on Monday . The company traded as high as $13.48 and last traded at $13.4390, with a volume of 1915 shares traded. The stock had previously closed at $13.34.

Wall Street Analyst Weigh In

Several analysts have issued reports on DHT shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $16.00 price target on shares of DHT in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DHT in a report on Wednesday, October 8th. BTIG Research reiterated a “buy” rating and issued a $16.00 target price on shares of DHT in a research note on Thursday, October 30th. Zacks Research raised DHT to a “hold” rating in a research report on Monday, August 11th. Finally, Evercore ISI raised their price objective on DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.18.

DHT Stock Performance

The company has a current ratio of 2.33, a quick ratio of 1.96 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 10.82 and a beta of -0.01. The stock’s 50 day moving average is $12.31 and its 200 day moving average is $11.65.

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

DHT Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be given a $0.18 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $0.72 annualized dividend and a dividend yield of 5.4%. DHT’s payout ratio is presently 58.06%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hohimer Wealth Management LLC lifted its stake in DHT by 5.7% during the first quarter. Hohimer Wealth Management LLC now owns 17,951 shares of the shipping company’s stock worth $188,000 after purchasing an additional 961 shares during the last quarter. Martingale Asset Management L P grew its position in DHT by 0.6% in the first quarter. Martingale Asset Management L P now owns 165,461 shares of the shipping company’s stock valued at $1,737,000 after acquiring an additional 970 shares during the last quarter. First Trust Advisors LP raised its stake in DHT by 0.6% during the second quarter. First Trust Advisors LP now owns 177,393 shares of the shipping company’s stock worth $1,918,000 after acquiring an additional 1,114 shares in the last quarter. Earned Wealth Advisors LLC lifted its holdings in shares of DHT by 11.3% in the first quarter. Earned Wealth Advisors LLC now owns 11,129 shares of the shipping company’s stock worth $117,000 after acquiring an additional 1,129 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of DHT by 101.6% in the 3rd quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,368 shares in the last quarter. 58.53% of the stock is owned by institutional investors.

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.