DHT (NYSE:DHT) Shares Up 5.4% – Still a Buy?

DHT Holdings, Inc. (NYSE:DHT)’s share price was up 5.4% on Friday . The stock traded as high as $10.88 and last traded at $10.59. Approximately 519,896 shares were traded during trading, a decline of 65% from the average daily volume of 1,477,855 shares. The stock had previously closed at $10.05.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DHT. BTIG Research assumed coverage on DHT in a report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price for the company. Stifel Nicolaus lowered their price objective on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Kepler Capital Markets downgraded shares of DHT from a “buy” rating to a “hold” rating and set a $9.70 target price for the company. in a research report on Thursday, December 12th. Jefferies Financial Group reissued a “buy” rating and set a $14.00 price objective on shares of DHT in a report on Wednesday, November 13th. Finally, StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, DHT presently has a consensus rating of “Moderate Buy” and an average price target of $13.54.

DHT Stock Up 6.5 %

The stock has a market capitalization of $1.73 billion, a P/E ratio of 10.70 and a beta of -0.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97. The stock has a fifty day moving average price of $9.74 and a 200 day moving average price of $10.64.

DHT (NYSE:DHT) last posted its earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $87.51 million. During the same quarter in the previous year, the firm earned $0.19 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts forecast that DHT Holdings, Inc. will post 1 earnings per share for the current year.

DHT Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 22nd were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 8.22%. The ex-dividend date was Friday, November 22nd. DHT’s dividend payout ratio is presently 88.00%.

Institutional Investors Weigh In On DHT

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in shares of DHT by 12.4% in the second quarter. Bank of New York Mellon Corp now owns 466,751 shares of the shipping company’s stock worth $5,400,000 after purchasing an additional 51,522 shares during the last quarter. Principal Financial Group Inc. lifted its position in DHT by 8.6% in the 2nd quarter. Principal Financial Group Inc. now owns 81,471 shares of the shipping company’s stock worth $943,000 after buying an additional 6,454 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of DHT by 136.6% during the 2nd quarter. Headlands Technologies LLC now owns 10,413 shares of the shipping company’s stock valued at $120,000 after purchasing an additional 6,011 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in DHT by 8.6% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 61,280 shares of the shipping company’s stock worth $709,000 after acquiring an additional 4,861 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in DHT by 43.8% during the 2nd quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock valued at $33,183,000 after buying an additional 873,356 shares during the period. Institutional investors own 58.53% of the company’s stock.

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.