DHT (NYSE:DHT) Stock Price Down 4% – Here’s What Happened

DHT Holdings, Inc. (NYSE:DHT)’s stock price was down 4% on Friday . The company traded as low as $10.61 and last traded at $10.51. Approximately 193,412 shares traded hands during trading, a decline of 91% from the average daily volume of 2,165,887 shares. The stock had previously closed at $10.94.

Wall Street Analyst Weigh In

DHT has been the subject of a number of research reports. Kepler Capital Markets cut shares of DHT from a “buy” rating to a “hold” rating and set a $9.70 target price for the company. in a report on Thursday, December 12th. Stifel Nicolaus decreased their price objective on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. BTIG Research initiated coverage on DHT in a report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price on the stock. Fearnley Fonds raised DHT to a “strong-buy” rating in a report on Friday, September 27th. Finally, StockNews.com upgraded shares of DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.54.

DHT Stock Down 3.2 %

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 firm has a market cap of $1.71 billion, a price-to-earnings ratio of 10.56 and a beta of -0.38. The firm has a 50 day moving average price of $9.84 and a 200-day moving average price of $10.59.

DHT (NYSE:DHT) last issued its quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The business 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%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 earnings per share. On average, equities analysts forecast that DHT Holdings, Inc. will post 1 EPS for the current year.

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 8.31%. The ex-dividend date of this dividend was Friday, November 22nd. DHT’s dividend payout ratio is presently 88.00%.

Institutional Investors Weigh In On DHT

Several hedge funds have recently made changes to their positions in DHT. FMR LLC lifted its position in DHT by 10.0% during the third quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock worth $266,849,000 after buying an additional 2,195,916 shares during the period. Wasatch Advisors LP acquired a new stake in shares of DHT in the third quarter worth approximately $55,472,000. Two Sigma Advisers LP grew its holdings in DHT by 15.7% in the third quarter. Two Sigma Advisers LP now owns 2,102,800 shares of the shipping company’s stock valued at $23,194,000 after purchasing an additional 284,900 shares during the period. M&G PLC increased its position in DHT by 1.4% during the third quarter. M&G PLC now owns 1,204,231 shares of the shipping company’s stock worth $13,247,000 after purchasing an additional 16,736 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in DHT by 1,144.6% during the third quarter. International Assets Investment Management LLC now owns 678,808 shares of the shipping company’s stock worth $7,487,000 after purchasing an additional 624,266 shares during the period. Institutional investors and hedge funds 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.