DHT (NYSE:DHT) Reaches New 12-Month High – Should You Buy?

Shares of DHT Holdings, Inc. (NYSE:DHT) hit a new 52-week high during trading on Tuesday . The stock traded as high as $17.55 and last traded at $17.5160, with a volume of 4902224 shares trading hands. The stock had previously closed at $17.45.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wall Street Zen cut shares of DHT from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Jefferies Financial Group reissued a “buy” rating and set a $16.00 price target on shares of DHT in a research report on Thursday, October 30th. BTIG Research upped their price objective on DHT from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, DHT has an average rating of “Moderate Buy” and an average price target of $16.33.

DHT Trading Down 0.2%

The company has a debt-to-equity ratio of 0.34, a current ratio of 2.80 and a quick ratio of 2.47. The company has a market cap of $3.00 billion, a P/E ratio of 14.25 and a beta of -0.07. The stock’s 50-day moving average is $13.99 and its two-hundred day moving average is $12.94.

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

DHT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 19th will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, February 19th. This is a positive change from DHT’s previous quarterly dividend of $0.18. This represents a $1.64 annualized dividend and a yield of 8.8%. DHT’s payout ratio is 125.19%.

Institutional Investors Weigh In On DHT

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its holdings in shares of DHT by 360.8% in the third 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 raised its position in 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 acquiring an additional 1,066,552 shares during the period. Qube Research & Technologies Ltd boosted its stake in shares of DHT by 706.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock worth $11,650,000 after acquiring an additional 943,990 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of DHT during the 4th quarter valued at $8,927,000. Finally, Public Sector Pension Investment Board grew its position 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 acquiring an additional 608,601 shares during the period. Hedge funds and other institutional investors own 58.53% of the company’s stock.

About DHT

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.