DHT (NYSE:DHT) Trading 5.4% Higher – Should You Buy?

DHT Holdings, Inc. (NYSE:DHT) was up 5.4% on Friday . The stock traded as high as $10.88 and last traded at $10.59. Approximately 519,896 shares were traded during trading, a decline of 65% from the average daily volume of 1,477,855 shares. The stock had previously closed at $10.05.

Analyst Ratings Changes

DHT has been the subject of a number of research reports. Fearnley Fonds upgraded DHT to a “strong-buy” rating in a report on Friday, September 27th. 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. Stifel Nicolaus cut their price objective on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. BTIG Research began coverage on shares of DHT in a report on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price for the company. Finally, StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.54.

DHT Stock Performance

The business has a fifty day moving average price of $9.74 and a 200-day moving average price of $10.64. The company has a quick ratio of 1.97, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $1.73 billion, a P/E ratio of 10.70 and a beta of -0.38.

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

DHT Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 8.22%. The ex-dividend date was Friday, November 22nd. DHT’s payout ratio is 88.00%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quarry LP grew 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 purchasing an additional 3,717 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of DHT during the third quarter valued at approximately $50,000. Nisa Investment Advisors LLC lifted its holdings in shares of DHT by 52.2% in the third quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock worth $76,000 after buying an additional 2,361 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of DHT during the second quarter worth $80,000. Finally, Soros Fund Management LLC bought a new position in shares of DHT during the third quarter worth $114,000. 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.