Renaissance Technologies LLC Cuts Position in DHT Holdings, Inc. (NYSE:DHT)

Renaissance Technologies LLC lowered its position in shares of DHT Holdings, Inc. (NYSE:DHT) by 6.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,573,745 shares of the shipping company’s stock after selling 166,174 shares during the quarter. Renaissance Technologies LLC’s holdings in DHT were worth $23,910,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Legal & General Group Plc grew its stake in DHT by 19.8% during the fourth quarter. Legal & General Group Plc now owns 26,754 shares of the shipping company’s stock worth $249,000 after buying an additional 4,425 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of DHT by 0.4% during the 4th quarter. Russell Investments Group Ltd. now owns 552,680 shares of the shipping company’s stock valued at $5,134,000 after acquiring an additional 2,277 shares in the last quarter. Wells Fargo & Company MN boosted its position in DHT by 43.6% during the 4th quarter. Wells Fargo & Company MN now owns 100,829 shares of the shipping company’s stock worth $937,000 after purchasing an additional 30,600 shares during the period. Geode Capital Management LLC increased its holdings in DHT by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,657,699 shares of the shipping company’s stock valued at $15,400,000 after purchasing an additional 5,603 shares in the last quarter. Finally, Diametric Capital LP acquired a new stake in DHT in the 4th quarter valued at $305,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

Analysts Set New Price Targets

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

DHT Price Performance

Shares of DHT stock opened at $10.61 on Friday. DHT Holdings, Inc. has a twelve month low of $8.67 and a twelve month high of $12.80. The company has a market capitalization of $1.71 billion, a PE ratio of 9.48 and a beta of -0.06. 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 fifty day simple moving average of $10.63 and a 200-day simple moving average of $10.47.

DHT (NYSE:DHT) last posted its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.34 earnings per share for the quarter, beating 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 anticipate 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 dividend of $0.17 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.68 dividend on an annualized basis and a yield of 6.41%. DHT’s dividend payout ratio (DPR) is presently 60.71%.

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.