DHT (NYSE:DHT) Upgraded at StockNews.com

StockNews.com upgraded shares of DHT (NYSE:DHT) from a sell rating to a hold rating in a research note issued to investors on Thursday.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus cut their price target on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. BTIG Research assumed coverage on DHT in a research note on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price on the stock. Jefferies Financial Group restated a “buy” rating and issued a $14.00 target price on shares of DHT in a research note on Wednesday, November 13th. Finally, Fearnley Fonds upgraded DHT to a “strong-buy” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $14.50.

DHT Price Performance

DHT stock opened at $10.45 on Thursday. The company has a market capitalization of $1.69 billion, a P/E ratio of 10.45 and a beta of -0.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.33 and a current ratio of 2.41. DHT has a 52-week low of $9.28 and a 52-week high of $12.80. The business has a 50-day simple moving average of $10.92 and a two-hundred day simple moving average of $11.27.

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

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 22nd will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.88 annualized dividend and a yield of 8.42%. DHT’s payout ratio is 108.00%.

Hedge Funds Weigh In On DHT

Several institutional investors have recently bought and sold shares of the company. FMR LLC lifted its stake in DHT by 10.0% in the third quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock valued at $266,849,000 after purchasing an additional 2,195,916 shares during the last quarter. Wasatch Advisors LP purchased a new position in DHT in the third quarter valued at approximately $55,472,000. Acadian Asset Management LLC lifted its stake in DHT by 43.8% in the second quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock valued at $39,184,000 after purchasing an additional 1,032,832 shares during the last quarter. American Century Companies Inc. lifted its stake in DHT by 43.8% in the second quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock valued at $33,183,000 after purchasing an additional 873,356 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in DHT by 15.7% in the third quarter. Two Sigma Advisers LP now owns 2,102,800 shares of the shipping company’s stock valued at $23,194,000 after purchasing an additional 284,900 shares during the last quarter. Hedge funds and other institutional investors own 58.53% of the company’s stock.

DHT Company Profile

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.