DHT (NYSE:DHT) Given “Buy” Rating at Jefferies Financial Group

Jefferies Financial Group reissued their buy rating on shares of DHT (NYSE:DHT) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $14.00 price target on the shipping company’s stock.

Other research analysts have also recently issued research reports about the stock. 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 report on Wednesday, October 23rd. BTIG Research began coverage on shares of DHT in a research report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price on the stock. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. Finally, StockNews.com downgraded DHT from a “hold” rating to a “sell” rating in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, DHT currently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

DHT Stock Performance

NYSE DHT opened at $10.71 on Wednesday. DHT has a 1 year low of $9.28 and a 1 year high of $12.80. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 10.71 and a beta of -0.36. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36. The firm’s 50 day simple moving average is $10.91 and its 200 day simple moving average is $11.28.

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, beating the consensus estimate of $0.20 by $0.02. DHT had a return on equity of 15.57% and a net margin of 27.72%. The company had revenue of $92.64 million for the quarter, compared to analyst estimates of $87.51 million. During the same quarter last year, the company posted $0.19 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, research analysts expect that DHT will post 1.02 earnings per share for the current fiscal year.

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 22nd will be paid a $0.22 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.88 annualized dividend and a dividend yield of 8.22%. DHT’s dividend payout ratio is 108.00%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DHT. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of DHT in the third quarter valued at about $374,000. Cynosure Group LLC bought a new stake in DHT in the third quarter valued at approximately $372,000. Quantbot Technologies LP increased its position in DHT by 107.4% during the 3rd quarter. Quantbot Technologies LP now owns 205,971 shares of the shipping company’s stock valued at $2,272,000 after purchasing an additional 106,683 shares during the period. FMR LLC raised its holdings in DHT by 10.0% during the 3rd quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock worth $266,849,000 after purchasing an additional 2,195,916 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. lifted its position in shares of DHT by 1.5% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 69,000 shares of the shipping company’s stock worth $761,000 after purchasing an additional 1,000 shares during the period. 58.53% of the stock is owned by 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.