DHT (NYSE:DHT) Stock Price Up 2.5% – Here’s What Happened

DHT Holdings, Inc. (NYSE:DHT)’s share price was up 2.5% during mid-day trading on Friday . The company traded as high as $10.74 and last traded at $10.80. Approximately 147,923 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,742,883 shares. The stock had previously closed at $10.53.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Kepler Capital Markets cut DHT from a “buy” rating to a “hold” rating and set a $9.70 target price on the stock. in a research note on Thursday, December 12th. Jefferies Financial Group boosted their price objective on shares of DHT from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Three equities research 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 company. Based on data from MarketBeat.com, DHT presently has a consensus rating of “Moderate Buy” and an average target price of $12.68.

DHT Price Performance

The company’s 50-day simple moving average is $10.87 and its 200-day simple moving average is $10.54. The stock has a market capitalization of $1.70 billion, a P/E ratio of 9.43 and a beta of -0.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.84 and a quick ratio of 1.50.

DHT (NYSE:DHT) last posted its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.34 EPS for the quarter, topping 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, sell-side analysts expect that DHT Holdings, Inc. will post 0.94 EPS for the current fiscal year.

DHT Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 6.44%. The ex-dividend date was Tuesday, February 18th. DHT’s dividend payout ratio is 60.71%.

Hedge Funds Weigh In On DHT

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of DHT by 84.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,771 shares of the shipping company’s stock worth $26,000 after buying an additional 1,265 shares during the period. Spire Wealth Management bought a new stake in shares of DHT during the fourth quarter worth approximately $36,000. Banque Transatlantique SA acquired a new position in shares of DHT in the fourth quarter valued at approximately $37,000. Sterling Capital Management LLC increased its stake in shares of DHT by 822.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,325 shares of the shipping company’s stock worth $40,000 after purchasing an additional 3,856 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in DHT during the 3rd quarter worth approximately $50,000. 58.53% of the stock is currently owned by institutional investors and hedge funds.

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.