DHT (NYSE:DHT) Trading Up 5.3% – Time to Buy?

DHT Holdings, Inc. (NYSE:DHT)’s stock price traded up 5.3% during trading on Monday . The stock traded as high as $9.96 and last traded at $9.95. 433,375 shares changed hands during trading, a decline of 76% from the average session volume of 1,826,223 shares. The stock had previously closed at $9.45.

Wall Street Analyst Weigh In

DHT has been the topic of several research reports. Kepler Capital Markets downgraded DHT from a “buy” rating to a “hold” rating and set a $9.70 price objective on the stock. in a report on Thursday, December 12th. Jefferies Financial Group boosted their price target on DHT from $13.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Three 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 data from MarketBeat.com, DHT presently has an average rating of “Moderate Buy” and an average price target of $12.68.

DHT Stock Performance

The stock’s 50 day moving average price is $10.69 and its 200 day moving average price is $10.48. The company has a current ratio of 1.84, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.63 billion, a PE ratio of 9.02 and a beta of -0.06.

DHT (NYSE:DHT) last issued its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. DHT had a return on equity of 17.42% and a net margin of 31.72%. As a group, equities analysts forecast that DHT Holdings, Inc. will post 0.94 earnings per share for the current fiscal year.

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were paid a $0.17 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.68 dividend on an annualized basis and a yield of 6.73%. DHT’s payout ratio is presently 60.71%.

Hedge Funds Weigh In On DHT

Several large investors have recently modified their holdings of DHT. Tower Research Capital LLC TRC lifted its stake in shares of DHT by 84.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,771 shares of the shipping company’s stock valued at $26,000 after acquiring an additional 1,265 shares during the last quarter. Spire Wealth Management bought a new stake in DHT during the 4th quarter worth approximately $36,000. Banque Transatlantique SA bought a new stake in DHT during the fourth quarter worth $37,000. Sterling Capital Management LLC increased its holdings in DHT by 822.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,325 shares of the shipping company’s stock worth $40,000 after acquiring an additional 3,856 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in shares of DHT during the third quarter worth $50,000. 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.