DHT (NYSE:DHT) Receives Buy Rating from Jefferies Financial Group

Jefferies Financial Group restated their buy rating on shares of DHT (NYSE:DHT) in a research report report published on Thursday,Benzinga reports. The brokerage currently has a $16.00 price objective on the shipping company’s stock.

A number of other research analysts have also weighed in on the stock. Zacks Research raised shares of DHT to a “hold” rating in a research note on Monday, August 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DHT in a research note on Wednesday, October 8th. Finally, Evercore ISI raised their price objective on shares of DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.18.

DHT Price Performance

Shares of NYSE:DHT opened at $13.14 on Thursday. 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 has a twelve month low of $8.67 and a twelve month high of $13.36. The stock’s 50 day moving average is $12.12 and its 200-day moving average is $11.50. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 10.60 and a beta of 0.01.

DHT (NYSE:DHT) last issued its earnings results on Wednesday, October 29th. The shipping company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. DHT had a return on equity of 17.18% and a net margin of 41.17%.The company had revenue of $79.10 million for the quarter, compared to analyst estimates of $78.83 million. During the same period in the prior year, the firm earned $0.22 earnings per share. DHT’s revenue for the quarter was down 14.6% on a year-over-year basis. Sell-side analysts forecast that DHT will post 0.94 EPS for the current fiscal year.

DHT Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Wednesday, November 12th. DHT’s dividend payout ratio (DPR) is 81.36%.

Hedge Funds Weigh In On DHT

Large investors have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of DHT by 81.5% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company’s stock worth $25,000 after purchasing an additional 1,073 shares in the last quarter. Roble Belko & Company Inc purchased a new stake in DHT during the 2nd quarter worth about $30,000. CWM LLC lifted its holdings in DHT by 223.4% during the 1st quarter. CWM LLC now owns 3,063 shares of the shipping company’s stock worth $32,000 after purchasing an additional 2,116 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in DHT by 190.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock worth $33,000 after purchasing an additional 1,982 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in DHT by 344.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,162 shares of the shipping company’s stock worth $34,000 after purchasing an additional 2,450 shares in the last quarter. Hedge funds and other 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.