DHT (NYSE:DHT) Shares Gap Down – Should You Sell?

DHT Holdings, Inc. (NYSE:DHT)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $11.09, but opened at $10.85. DHT shares last traded at $10.96, with a volume of 293,527 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Stifel Nicolaus cut their target price 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. Kepler Capital Markets downgraded shares of DHT from a “buy” rating to a “hold” rating and set a $9.70 target price on the stock. in a research report on Thursday, December 12th. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a research report on Friday, September 27th. StockNews.com upgraded shares of DHT from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, BTIG Research started coverage on shares of DHT in a report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price target for the company. Three 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.54.

DHT Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.97 and a current ratio of 2.41. The firm’s fifty day simple moving average is $9.77 and its 200-day simple moving average is $10.61. The stock has a market cap of $1.79 billion, a P/E ratio of 11.10 and a beta of -0.37.

DHT (NYSE:DHT) last released its quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $92.64 million during 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%. DHT’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 EPS. Equities research analysts expect that DHT Holdings, Inc. will post 1 EPS for the current fiscal year.

DHT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were paid a $0.22 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.88 annualized dividend and a dividend yield of 7.93%. DHT’s dividend payout ratio is currently 88.00%.

Institutional Trading of DHT

Hedge funds have recently modified their holdings of the stock. Quarry LP increased its stake in shares of DHT by 2,494.6% in the 2nd quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock valued at $45,000 after acquiring an additional 3,717 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of DHT in the 3rd quarter valued at $50,000. Nisa Investment Advisors LLC increased its stake in DHT by 52.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock valued at $76,000 after purchasing an additional 2,361 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in DHT during the 2nd quarter valued at $80,000. Finally, Soros Fund Management LLC bought a new stake in DHT during the 3rd quarter valued at $114,000. Institutional investors own 58.53% of the company’s stock.

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.