Castlekeep Investment Advisors LLC Invests $1.18 Million in DHT Holdings, Inc. $DHT

Castlekeep Investment Advisors LLC purchased a new position in DHT Holdings, Inc. (NYSE:DHT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 109,082 shares of the shipping company’s stock, valued at approximately $1,179,000. Castlekeep Investment Advisors LLC owned approximately 0.07% of DHT as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of DHT. Encompass Capital Advisors LLC bought a new position in shares of DHT in the first quarter worth $19,950,000. Corigliano Investment Advisers LLC bought a new position in shares of DHT in the first quarter worth $5,788,000. American Century Companies Inc. grew its stake in shares of DHT by 8.7% in the first quarter. American Century Companies Inc. now owns 4,407,658 shares of the shipping company’s stock worth $46,280,000 after purchasing an additional 354,074 shares in the last quarter. Nuveen LLC bought a new position in shares of DHT in the first quarter worth $3,660,000. Finally, Kettle Hill Capital Management LLC bought a new position in shares of DHT in the first quarter worth $3,523,000. Institutional investors own 58.53% of the company’s stock.

DHT Trading Up 1.3%

Shares of DHT stock opened at $13.27 on Friday. The stock has a 50-day simple moving average of $12.16 and a 200 day simple moving average of $11.53. DHT Holdings, Inc. has a fifty-two week low of $8.67 and a fifty-two week high of $13.36. The stock has a market capitalization of $2.13 billion, a P/E ratio of 10.70 and a beta of 0.01. The company has a quick ratio of 1.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.23.

DHT (NYSE:DHT) last announced its earnings results on Wednesday, October 29th. The shipping company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.11. DHT had a return on equity of 17.18% and a net margin of 41.17%.The business had revenue of $79.10 million during the quarter, compared to analysts’ expectations of $78.83 million. During the same quarter last year, the business posted $0.22 earnings per share. The company’s quarterly revenue was down 14.6% on a year-over-year basis. On average, sell-side analysts expect that DHT Holdings, Inc. will post 0.94 earnings per share for the current fiscal year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th will be given a $0.18 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.4%. DHT’s dividend payout ratio (DPR) is 81.36%.

Analysts Set New Price Targets

Several research firms have recently issued reports on DHT. Zacks Research raised DHT to a “hold” rating in a research note on Monday, August 11th. Evercore ISI raised their target price on DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. BTIG Research reaffirmed a “buy” rating and set a $16.00 target price on shares of DHT in a research note on Thursday. Jefferies Financial Group reaffirmed a “buy” rating and set a $16.00 target price on shares of DHT in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of DHT in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.18.

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.