DHT (NYSE:DHT) Shares Down 2.7% – Here’s Why

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

Analyst Upgrades and Downgrades

DHT has been the topic of a number of recent analyst reports. Stifel Nicolaus decreased their target price on DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. StockNews.com upgraded shares of DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. BTIG Research started coverage on shares of DHT in a research note on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price for the company. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. Finally, Jefferies Financial Group restated a “buy” rating and set a $14.00 price objective on shares of DHT in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

DHT Trading Down 1.3 %

The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97. The business’s 50-day moving average is $10.82 and its 200 day moving average is $11.18. The firm has a market capitalization of $1.55 billion, a P/E ratio of 9.63 and a beta of -0.36.

DHT (NYSE:DHT) last announced its earnings results on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $92.64 million for the quarter, compared to analysts’ expectations of $87.51 million. DHT had a net margin of 27.72% and a return on equity of 15.58%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.19 earnings per share. As a group, analysts anticipate that DHT Holdings, Inc. 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. Shareholders of record on Friday, November 22nd will be issued a $0.22 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.88 annualized dividend and a yield of 9.14%. DHT’s dividend payout ratio is presently 88.00%.

Institutional Trading of DHT

Several large investors have recently modified their holdings of DHT. Quarry LP raised its stake in DHT by 2,494.6% in the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock valued at $45,000 after purchasing an additional 3,717 shares in the last quarter. Sunbelt Securities Inc. bought a new position in DHT in the 3rd quarter valued at about $50,000. Nisa Investment Advisors LLC raised its position in shares of DHT by 52.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock valued at $76,000 after buying an additional 2,361 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of DHT during the 2nd quarter worth approximately $78,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of DHT during the 2nd quarter worth approximately $80,000. 58.53% of the stock is owned by institutional investors and hedge funds.

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.