DHT (NYSE:DHT) Upgraded at StockNews.com

StockNews.com upgraded shares of DHT (NYSE:DHT) from a sell rating to a hold rating in a research note released on Thursday morning.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group reiterated a “buy” rating and set a $14.00 price target on shares of DHT in a report on Wednesday. BTIG Research started coverage on shares of DHT in a report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price on the stock. Stifel Nicolaus lowered their price target on DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Finally, Fearnley Fonds raised DHT to a “strong-buy” rating in a research report on Friday, September 27th. Two analysts have rated the stock with a hold rating, three have issued 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 a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

DHT Trading Down 3.2 %

NYSE:DHT opened at $10.45 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.33 and a current ratio of 2.41. The company has a market capitalization of $1.69 billion, a P/E ratio of 10.45 and a beta of -0.36. The stock’s 50 day moving average price is $10.92 and its 200 day moving average price is $11.27. DHT has a 52 week low of $9.28 and a 52 week high of $12.80.

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, 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 firm had revenue of $92.64 million during the quarter, compared to analysts’ expectations of $87.51 million. During the same period in the prior year, the company posted $0.19 earnings per share. DHT’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts forecast that DHT will post 1 EPS for the current fiscal 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 issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.88 annualized dividend and a dividend yield of 8.42%. DHT’s payout ratio is 88.00%.

Institutional Investors Weigh In On DHT

Several hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its holdings in shares of DHT by 8.7% during the 1st quarter. Russell Investments Group Ltd. now owns 619,634 shares of the shipping company’s stock worth $7,126,000 after purchasing an additional 49,657 shares in the last quarter. Boston Partners boosted its stake in DHT by 74.6% during the first quarter. Boston Partners now owns 163,512 shares of the shipping company’s stock worth $1,880,000 after buying an additional 69,838 shares in the last quarter. M&G Plc acquired a new position in shares of DHT in the 1st quarter valued at $16,417,000. Vanguard Group Inc. lifted its holdings in shares of DHT by 15.2% during the 1st quarter. Vanguard Group Inc. now owns 998,097 shares of the shipping company’s stock worth $11,478,000 after acquiring an additional 132,039 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of DHT by 1,144.6% during the 3rd quarter. International Assets Investment Management LLC now owns 678,808 shares of the shipping company’s stock valued at $7,487,000 after acquiring an additional 624,266 shares in the last quarter. Institutional investors own 58.53% of the company’s stock.

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.