DHT (NYSE:DHT) Reaches New 12-Month Low – Time to Sell?

DHT Holdings, Inc. (NYSE:DHT) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $9.16 and last traded at $9.16, with a volume of 386734 shares traded. The stock had previously closed at $9.36.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Stifel Nicolaus decreased their price target on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. BTIG Research began coverage on shares of DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $14.00 target price on shares of DHT in a research report on Wednesday, November 13th. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a research report on Friday, September 27th. Finally, StockNews.com upgraded shares of DHT from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, DHT presently has an average rating of “Moderate Buy” and an average price target of $14.50.

DHT Stock Performance

The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 9.36 and a beta of -0.37. 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’s 50-day simple moving average is $10.57 and its 200 day simple moving average is $10.99.

DHT (NYSE:DHT) last released its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $92.64 million for the quarter, compared to analyst estimates of $87.51 million. DHT had a net margin of 27.72% and a return on equity of 15.58%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. Analysts expect that DHT Holdings, Inc. will post 1 earnings per share for the current fiscal year.

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 22nd were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 9.64%. The ex-dividend date of this dividend was Friday, November 22nd. DHT’s dividend payout ratio is presently 88.00%.

Hedge Funds Weigh In On DHT

A number of institutional investors have recently modified their holdings of DHT. Intech Investment Management LLC bought a new stake in shares of DHT during the third quarter worth approximately $611,000. Vanguard Group Inc. raised its stake in shares of DHT by 15.2% during the first quarter. Vanguard Group Inc. now owns 998,097 shares of the shipping company’s stock worth $11,478,000 after buying an additional 132,039 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of DHT by 1,144.6% during the third quarter. International Assets Investment Management LLC now owns 678,808 shares of the shipping company’s stock worth $7,487,000 after buying an additional 624,266 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of DHT during the third quarter worth approximately $2,611,000. Finally, Millennium Management LLC raised its stake in shares of DHT by 2,728.7% during the second quarter. Millennium Management LLC now owns 321,683 shares of the shipping company’s stock worth $3,722,000 after buying an additional 310,311 shares during the last quarter. 58.53% of the stock is owned by institutional investors.

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.