DHT (NYSE:DHT) Sets New 1-Year Low – Time to Sell?

DHT Holdings, Inc. (NYSE:DHT) shares reached a new 52-week low on Tuesday . The stock traded as low as $8.67 and last traded at $8.75, with a volume of 166748 shares traded. The stock had previously closed at $8.94.

Analyst Upgrades and Downgrades

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

DHT Stock Down 0.1 %

The company has a market capitalization of $1.45 billion, a PE ratio of 8.99 and a beta of -0.37. The firm has a 50 day simple moving average of $10.28 and a two-hundred day simple moving average of $10.88. The company has a current ratio of 2.41, a quick ratio of 1.97 and a debt-to-equity ratio of 0.35.

DHT (NYSE:DHT) last issued its quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. DHT had a net margin of 27.72% and a return on equity of 15.58%. The firm had revenue of $92.64 million for the quarter, compared to analysts’ expectations of $87.51 million. During the same period in the prior year, the company earned $0.19 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. Research analysts expect that DHT Holdings, Inc. will post 1 EPS for the current year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 22nd were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.88 annualized dividend and a yield of 9.79%. DHT’s dividend payout ratio is currently 88.00%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DHT. Quarry LP increased its holdings in shares of DHT by 2,494.6% in the 2nd quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock valued at $45,000 after purchasing an additional 3,717 shares during the period. Sunbelt Securities Inc. bought a new stake in shares of DHT during the third quarter valued at approximately $50,000. Summit Securities Group LLC bought a new position in DHT during the 2nd quarter worth approximately $78,000. Nisa Investment Advisors LLC lifted its holdings in DHT by 52.2% during the third quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock worth $76,000 after acquiring an additional 2,361 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in DHT in the 2nd quarter worth $80,000. 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.