DHT (NYSE:DHT) Shares Gap Down – Here’s Why

DHT Holdings, Inc. (NYSE:DHT) shares gapped down before the market opened on Friday . The stock had previously closed at $10.37, but opened at $10.07. DHT shares last traded at $10.22, with a volume of 192,031 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. BTIG Research assumed coverage on shares of DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price target on the stock. Stifel Nicolaus lowered their price target on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a research report on Friday, September 27th. StockNews.com upgraded shares of DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $14.00 price target on shares of DHT in a research note on Wednesday, November 13th. Two equities 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’s stock. Based on data from MarketBeat.com, DHT presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

DHT Price Performance

The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 10.22 and a beta of -0.36. 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 company’s fifty day moving average is $10.92 and its two-hundred day moving average is $11.24.

DHT (NYSE:DHT) last issued its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, topping 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 company had revenue of $92.64 million for the quarter, compared to analyst estimates of $87.51 million. During the same period in the prior year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, research analysts predict that DHT Holdings, Inc. will post 1 earnings per share for the current year.

DHT Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 8.60%. The ex-dividend date is Friday, November 22nd. DHT’s dividend payout ratio is currently 108.00%.

Institutional Trading of DHT

A number of large investors have recently modified their holdings of DHT. Quarry LP increased its position in shares of DHT by 2,494.6% during the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after acquiring an additional 3,717 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of DHT during the third quarter worth $50,000. Nisa Investment Advisors LLC grew its stake in shares of 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 purchasing an additional 2,361 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of DHT during the second quarter worth $78,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of DHT during the second quarter worth $80,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

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.