DHT (NYSE:DHT) Trading Down 2.7% – Should You Sell?

DHT Holdings, Inc. (NYSE:DHT)’s share price traded down 2.7% during trading on Wednesday . The company traded as low as $9.31 and last traded at $9.50. 316,460 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,808,626 shares. The stock had previously closed at $9.76.

Analysts Set New Price Targets

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

DHT Trading Down 1.5 %

The firm has a 50-day simple moving average of $10.85 and a 200-day simple moving average of $11.19. 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 cap of $1.55 billion, a PE ratio of 9.76 and a beta of -0.36.

DHT (NYSE:DHT) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $87.51 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts forecast that DHT Holdings, Inc. will post 1 earnings per share for the current year.

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.22 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.88 annualized dividend and a yield of 9.16%. DHT’s payout ratio is presently 88.00%.

Institutional Trading of DHT

A number of hedge funds have recently made changes to their positions in DHT. Quarry LP lifted its position in DHT by 2,494.6% in the 2nd quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after buying an additional 3,717 shares during the last quarter. Sunbelt Securities Inc. bought a new position in shares of DHT during the 3rd quarter valued at $50,000. Summit Securities Group LLC purchased a new stake in DHT during the second quarter valued at about $78,000. Nisa Investment Advisors LLC increased 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 during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in DHT during the 2nd quarter valued at about $80,000. 58.53% of the stock is owned by institutional investors.

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.