DHT (NYSE:DHT) Trading 2.5% Higher – What’s Next?

DHT Holdings, Inc. (NYSE:DHT) was up 2.5% during mid-day trading on Friday . The company traded as high as $10.74 and last traded at $10.80. Approximately 147,923 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 1,742,883 shares. The stock had previously closed at $10.53.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DHT. Kepler Capital Markets cut DHT from a “buy” rating to a “hold” rating and set a $9.70 price objective on the stock. in a research note on Thursday, December 12th. Jefferies Financial Group raised their price target on DHT from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.68.

DHT Price Performance

The firm has a market capitalization of $1.73 billion, a PE ratio of 9.57 and a beta of -0.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.84. The stock has a fifty day moving average price of $10.87 and a 200-day moving average price of $10.54.

DHT (NYSE:DHT) last posted its earnings results on Wednesday, February 5th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.12. DHT had a return on equity of 17.42% and a net margin of 31.72%. Sell-side analysts forecast that DHT Holdings, Inc. will post 0.94 EPS for the current fiscal year.

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.68 annualized dividend and a dividend yield of 6.35%. DHT’s dividend payout ratio (DPR) is presently 60.71%.

Institutional Investors Weigh In On DHT

Several institutional investors have recently bought and sold shares of DHT. Intech Investment Management LLC acquired a new stake in shares of DHT in the 3rd quarter worth $611,000. Barclays PLC boosted its holdings in DHT by 229.4% in the third quarter. Barclays PLC now owns 188,899 shares of the shipping company’s stock worth $2,083,000 after acquiring an additional 131,551 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of DHT during the fourth quarter worth about $1,387,000. Victory Capital Management Inc. grew its stake in shares of DHT by 1,367.3% during the fourth quarter. Victory Capital Management Inc. now owns 503,869 shares of the shipping company’s stock worth $4,681,000 after acquiring an additional 469,528 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of DHT during the third quarter valued at about $134,000. 58.53% of the stock is currently owned by institutional investors and hedge funds.

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.