DHT (NYSE:DHT) Sets New 12-Month High – Time to Buy?

DHT Holdings, Inc. (NYSE:DHT) hit a new 52-week high on Wednesday . The stock traded as high as $16.33 and last traded at $16.25, with a volume of 4057973 shares traded. The stock had previously closed at $15.91.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a research note on Wednesday, January 21st. BTIG Research lifted their price target on shares of DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Evercore boosted their price target on shares of DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Wall Street Zen lowered DHT from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $16.00 target price on shares of DHT in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.33.

DHT Price Performance

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 company has a market capitalization of $2.61 billion, a PE ratio of 12.40 and a beta of -0.07. The company’s 50-day simple moving average is $13.38 and its 200-day simple moving average is $12.69.

DHT (NYSE:DHT) last announced its earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. The business had revenue of $117.80 million during the quarter, compared to the consensus estimate of $116.96 million. DHT had a net margin of 42.35% and a return on equity of 17.70%. The business’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 earnings per share. As a group, sell-side analysts anticipate that DHT Holdings, Inc. will post 0.94 earnings per share for the current year.

DHT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 19th will be paid a $0.41 dividend. This is an increase from DHT’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, February 19th. This represents a $1.64 annualized dividend and a dividend yield of 10.1%. DHT’s dividend payout ratio (DPR) is 54.96%.

Hedge Funds Weigh In On DHT

Several institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in DHT by 360.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,963,693 shares of the shipping company’s stock worth $35,416,000 after buying an additional 2,320,564 shares during the last quarter. Marex Group plc increased its stake in shares of DHT by 5,860.2% during the fourth quarter. Marex Group plc now owns 1,084,752 shares of the shipping company’s stock worth $13,245,000 after acquiring an additional 1,066,552 shares during the period. Qube Research & Technologies Ltd raised its holdings in DHT by 706.0% during the second quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock worth $11,650,000 after purchasing an additional 943,990 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in DHT in the fourth quarter valued at about $8,927,000. Finally, Public Sector Pension Investment Board boosted its holdings in DHT by 447.5% in 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 purchasing an additional 608,601 shares in the last quarter. 58.53% of the stock is owned by institutional investors and hedge funds.

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.