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 published on Thursday morning.

A number of other equities analysts have also commented on DHT. Fearnley Fonds upgraded DHT to a “strong-buy” rating in a research note on Friday, September 27th. BTIG Research started coverage on DHT in a report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price on the stock. Jefferies Financial Group reissued a “buy” rating and set a $14.00 price objective on shares of DHT in a report on Wednesday, November 13th. Finally, Stifel Nicolaus cut 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. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

DHT Price Performance

Shares of NYSE DHT opened at $10.45 on Thursday. The firm has a market cap of $1.69 billion, a P/E ratio of 10.45 and a beta of -0.36. The company has a current ratio of 2.41, a quick ratio of 2.33 and a debt-to-equity ratio of 0.35. DHT has a 1-year low of $9.28 and a 1-year high of $12.80. The business’s 50 day moving average is $10.92 and its 200-day moving average is $11.27.

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

DHT Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Pekin Hardy Strauss Inc. raised its position in shares of DHT by 1.5% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 69,000 shares of the shipping company’s stock worth $761,000 after acquiring an additional 1,000 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in DHT by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,435 shares of the shipping company’s stock valued at $560,000 after buying an additional 1,172 shares in the last quarter. Stifel Financial Corp increased its position in DHT by 7.7% in the 3rd quarter. Stifel Financial Corp now owns 21,272 shares of the shipping company’s stock valued at $235,000 after buying an additional 1,514 shares in the last quarter. ProShare Advisors LLC increased its position in DHT by 7.2% in the 1st quarter. ProShare Advisors LLC now owns 24,358 shares of the shipping company’s stock valued at $280,000 after buying an additional 1,640 shares in the last quarter. Finally, MQS Management LLC increased its position in DHT by 7.3% in the 2nd quarter. MQS Management LLC now owns 24,423 shares of the shipping company’s stock valued at $283,000 after buying an additional 1,662 shares in 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.