DHT (NYSE:DHT) Stock Price Down 2.7% – Should You Sell?

DHT Holdings, Inc. (NYSE:DHT)’s stock price traded down 2.7% on Wednesday . The stock traded as low as $9.31 and last traded at $9.50. 316,460 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,808,626 shares. The stock had previously closed at $9.76.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DHT. Fearnley Fonds upgraded DHT to a “strong-buy” rating in a research report on Friday, September 27th. BTIG Research assumed coverage on shares of DHT in a report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price target on the stock. StockNews.com raised shares of DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Stifel Nicolaus decreased their target price on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $14.00 price target on shares of DHT in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

DHT Trading Down 1.3 %

The company has a current ratio of 2.41, a quick ratio of 1.97 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 9.63 and a beta of -0.36. The firm’s 50-day moving average is $10.82 and its 200 day moving average is $11.18.

DHT (NYSE:DHT) last issued its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $92.64 million for the quarter, compared to analyst estimates of $87.51 million. DHT had a net margin of 27.72% and a return on equity of 15.58%. DHT’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. On average, equities analysts predict that DHT Holdings, Inc. will post 1 earnings per share for the current fiscal year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 22nd will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 9.14%. DHT’s dividend payout ratio (DPR) is presently 88.00%.

Hedge Funds Weigh In On DHT

A number of hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. increased its position in DHT by 8.4% during the 3rd quarter. Franklin Resources Inc. now owns 51,870 shares of the shipping company’s stock valued at $588,000 after purchasing an additional 4,000 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of DHT during the third quarter worth $134,000. Virtu Financial LLC bought a new position in DHT during the third quarter worth $149,000. Hohimer Wealth Management LLC acquired a new position in DHT in the third quarter valued at $173,000. Finally, Sunbelt Securities Inc. acquired a new position in DHT in the third quarter valued at $50,000. 58.53% of the stock is currently owned by institutional investors.

DHT Company Profile

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.