DHT (NYSE:DHT) Shares Down 4.2% – What’s Next?

DHT Holdings, Inc. (NYSE:DHT) traded down 4.2% on Wednesday . The stock traded as low as $17.73 and last traded at $17.7350. 2,635,849 shares traded hands during trading, a decline of 41% from the average session volume of 4,461,065 shares. The stock had previously closed at $18.52.

Wall Street Analyst Weigh In

Several analysts have commented on the company. BTIG Research lifted their price target on DHT from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a report on Wednesday, January 21st. Dnb Carnegie downgraded shares of DHT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen raised shares of DHT from a “hold” rating to a “buy” rating in a research report on Saturday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.33.

DHT Trading Down 4.4%

The company has a market capitalization of $2.85 billion, a PE ratio of 13.51 and a beta of -0.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.47 and a current ratio of 2.80. The business has a fifty day moving average price of $16.17 and a 200 day moving average price of $13.84.

DHT (NYSE:DHT) last issued its earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. DHT had a return on equity of 17.70% and a net margin of 42.35%.The business had revenue of $117.80 million during the quarter, compared to analysts’ expectations of $116.96 million. During the same quarter in the previous year, the business earned $0.34 EPS. The company’s revenue for the quarter was up 37.8% on a year-over-year basis. Analysts expect that DHT Holdings, Inc. will post 0.94 EPS for the current fiscal year.

DHT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 19th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, February 19th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 9.3%. This is a boost from DHT’s previous quarterly dividend of $0.18. DHT’s payout ratio is 125.19%.

Institutional Trading of DHT

A number of institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in DHT by 360.8% in the third quarter. Victory Capital Management Inc. now owns 2,963,693 shares of the shipping company’s stock valued at $35,416,000 after purchasing an additional 2,320,564 shares during the period. Marex Group plc boosted its position in shares of DHT by 5,860.2% in the fourth quarter. Marex Group plc now owns 1,084,752 shares of the shipping company’s stock worth $13,245,000 after buying an additional 1,066,552 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of DHT by 706.0% in the second quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock worth $11,650,000 after buying an additional 943,990 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of DHT in the fourth quarter valued at about $8,927,000. Finally, Public Sector Pension Investment Board raised its holdings in shares of DHT by 447.5% during the 4th quarter. Public Sector Pension Investment Board now owns 744,601 shares of the shipping company’s stock valued at $9,092,000 after buying an additional 608,601 shares during the period. 58.53% of the stock is owned by hedge funds and other institutional investors.

DHT Company Profile

DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.