DHT (NYSE:DHT) Shares Up 6.7% – What’s Next?

DHT Holdings, Inc. (NYSE:DHT)’s stock price rose 6.7% during trading on Wednesday . The company traded as high as $12.87 and last traded at $12.8250. Approximately 1,192,693 shares traded hands during trading, a decline of 37% from the average daily volume of 1,894,910 shares. The stock had previously closed at $12.02.

Analyst Ratings Changes

Several equities research analysts have recently commented on DHT shares. Wall Street Zen downgraded DHT from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. BTIG Research reaffirmed a “buy” rating and set a $16.00 price objective on shares of DHT in a research note on Thursday, October 30th. Evercore ISI raised their target price on shares of DHT from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $16.00 price objective on shares of DHT in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.67.

DHT Stock Up 2.4%

The business’s 50-day moving average price is $12.81 and its 200-day moving average price is $12.06. The company has a quick ratio of 2.02, a current ratio of 2.41 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.16 billion, a PE ratio of 10.83 and a beta of -0.07.

DHT (NYSE:DHT) last released its quarterly earnings data 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. The firm had revenue of $107.35 million for the quarter, compared to analyst estimates of $78.83 million. DHT had a net margin of 41.17% and a return on equity of 17.05%. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS. As a group, equities research analysts predict 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 Wednesday, November 19th. Investors of record on Wednesday, November 12th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $0.72 dividend on an annualized basis and a yield of 5.4%. DHT’s dividend payout ratio (DPR) is presently 58.06%.

Institutional Investors Weigh In On DHT

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of DHT by 21.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,936 shares of the shipping company’s stock valued at $288,000 after buying an additional 4,178 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in DHT in the third quarter worth approximately $162,000. Sunbelt Securities Inc. bought a new stake in DHT in the third quarter worth approximately $60,000. Dark Forest Capital Management LP acquired a new position in shares of DHT during the 3rd quarter worth $1,160,000. Finally, PharVision Advisers LLC raised its holdings in shares of DHT by 46.2% during the 3rd quarter. PharVision Advisers LLC now owns 24,588 shares of the shipping company’s stock valued at $294,000 after purchasing an additional 7,771 shares in the last quarter. 58.53% of the stock is owned by hedge funds and other institutional investors.

DHT Company Profile

DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.