DHT (NYSE:DHT) Reaches New 12-Month High – Here’s Why

DHT Holdings, Inc. (NYSE:DHT)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $13.48 and last traded at $13.4390, with a volume of 1915 shares trading hands. The stock had previously closed at $13.34.

Wall Street Analyst Weigh In

A number of equities analysts have commented on DHT shares. 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 report on Wednesday, October 8th. BTIG Research reissued a “buy” rating and set a $16.00 price objective on shares of DHT in a research note on Thursday, October 30th. Jefferies Financial Group restated a “buy” rating and set a $16.00 price objective on shares of DHT in a research report on Thursday, October 30th. Finally, Evercore ISI raised their price objective on DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.18.

DHT Price Performance

The company has a current ratio of 2.33, a quick ratio of 1.96 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $2.18 billion, a PE ratio of 10.94 and a beta of -0.01. The stock’s 50-day moving average is $12.37 and its two-hundred day moving average is $11.69.

DHT (NYSE:DHT) last announced its earnings results on Wednesday, October 29th. The shipping company reported $0.28 earnings per share (EPS) 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 analyst estimates of $78.83 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities analysts predict that DHT Holdings, Inc. will post 0.94 EPS for the current year.

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, November 12th. DHT’s dividend payout ratio is 58.06%.

Institutional Trading of DHT

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of DHT by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 10,633,115 shares of the shipping company’s stock worth $127,067,000 after purchasing an additional 66,242 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in DHT by 360.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,963,693 shares of the shipping company’s stock valued at $35,416,000 after buying an additional 2,320,564 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in DHT during the 3rd quarter valued at about $2,657,000. American Century Companies Inc. boosted its position in DHT by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 5,280,063 shares of the shipping company’s stock valued at $63,097,000 after buying an additional 380,688 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in DHT in the 3rd quarter worth about $405,000. 58.53% of the stock is currently 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.