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

DHT Holdings, Inc. (NYSE:DHT) 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 trading hands.

Analyst Upgrades and Downgrades

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

DHT Trading Up 0.8 %

The firm has a market capitalization of $1.65 billion, a PE ratio of 10.23 and a beta of -0.36. The firm has a fifty day moving average of $10.91 and a 200 day moving average of $11.23. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.97 and a current ratio of 2.41.

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

DHT Cuts Dividend

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

Institutional Investors Weigh In On DHT

Several hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE grew its position in shares of DHT by 4,149.5% during the first quarter. US Bancorp DE now owns 28,854 shares of the shipping company’s stock worth $332,000 after buying an additional 28,175 shares in the last quarter. ProShare Advisors LLC grew its holdings in DHT by 7.2% during the 1st quarter. ProShare Advisors LLC now owns 24,358 shares of the shipping company’s stock worth $280,000 after acquiring an additional 1,640 shares in the last quarter. Vanguard Group Inc. increased its position in shares of DHT by 15.2% in the 1st quarter. Vanguard Group Inc. now owns 998,097 shares of the shipping company’s stock worth $11,478,000 after purchasing an additional 132,039 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of DHT by 79.6% in the 1st quarter. Lazard Asset Management LLC now owns 12,522 shares of the shipping company’s stock valued at $144,000 after purchasing an additional 5,549 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of DHT by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,082 shares of the shipping company’s stock worth $450,000 after purchasing an additional 4,836 shares during the last quarter. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

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.