Sterling Capital Management LLC Cuts Stock Position in DHT Holdings, Inc. $DHT

Sterling Capital Management LLC lessened its stake in shares of DHT Holdings, Inc. (NYSE:DHT) by 89.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,484 shares of the shipping company’s stock after selling 39,146 shares during the period. Sterling Capital Management LLC’s holdings in DHT were worth $82,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DHT. EverSource Wealth Advisors LLC boosted its holdings in DHT by 91.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after acquiring an additional 1,596 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of DHT by 568.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock worth $43,000 after acquiring an additional 3,022 shares during the last quarter. Sound Income Strategies LLC bought a new position in shares of DHT during the fourth quarter valued at $58,000. Leonteq Securities AG bought a new position in shares of DHT during the fourth quarter valued at $59,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of DHT in the 3rd quarter worth about $60,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on DHT shares. Weiss Ratings raised shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, June 23rd. BTIG Research lifted their target price on shares of DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Evercore cut shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 target price for the company. in a report on Wednesday, April 22nd. Finally, Wall Street Zen upgraded shares of DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.33.

DHT Stock Up 2.4%

DHT stock opened at $17.71 on Thursday. The stock has a market capitalization of $2.85 billion, a P/E ratio of 8.60 and a beta of -0.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 1.62. DHT Holdings, Inc. has a 1-year low of $10.61 and a 1-year high of $20.55. The business has a fifty day moving average price of $17.71 and a 200-day moving average price of $16.55.

DHT (NYSE:DHT) last released its quarterly earnings data on Tuesday, May 5th. The shipping company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. DHT had a return on equity of 27.54% and a net margin of 58.54%.The company had revenue of $157.20 million for the quarter, compared to analysts’ expectations of $152.15 million. During the same period last year, the firm posted $0.27 earnings per share. DHT’s revenue was up 134.9% compared to the same quarter last year.

DHT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.64 per share. The ex-dividend date was Thursday, May 21st. This represents a $2.56 annualized dividend and a yield of 14.5%. This is an increase from DHT’s previous quarterly dividend of $0.41. DHT’s dividend payout ratio (DPR) is currently 124.27%.

About DHT

DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.