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

DHT Holdings, Inc. (NYSE:DHT) shares hit a new 52-week high on Wednesday . The company traded as high as $13.87 and last traded at $13.6120, with a volume of 342543 shares traded. The stock had previously closed at $13.49.

Wall Street Analysts Forecast Growth

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

DHT Stock Down 3.2%

The firm has a fifty day simple moving average of $12.84 and a 200 day simple moving average of $12.14. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.02 and a current ratio of 2.41. The company has a market cap of $2.13 billion, a PE ratio of 10.71 and a beta of -0.07.

DHT (NYSE:DHT) last released its earnings results on Wednesday, October 29th. The shipping company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.11. DHT had a net margin of 41.17% and a return on equity of 17.05%. The business had revenue of $107.35 million for the quarter, compared to analysts’ expectations of $78.83 million. During the same period last year, the company earned $0.22 earnings per share. The company’s quarterly revenue was down 14.6% on a year-over-year basis. Equities research analysts predict that DHT Holdings, Inc. will post 0.94 EPS for the current year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Wednesday, November 12th. DHT’s dividend payout ratio (DPR) is 58.06%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DHT. Bailard Inc. acquired a new position in DHT during the 2nd quarter worth approximately $623,000. American Century Companies Inc. raised its stake in shares of DHT by 11.2% during the second quarter. American Century Companies Inc. now owns 4,899,375 shares of the shipping company’s stock valued at $52,962,000 after purchasing an additional 491,717 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of DHT during the second quarter valued at approximately $463,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of DHT during the second quarter worth $329,000. Finally, Inspire Investing LLC boosted its stake in shares of DHT by 2.6% in the second quarter. Inspire Investing LLC now owns 71,262 shares of the shipping company’s stock valued at $770,000 after purchasing an additional 1,818 shares during the period. 58.53% of the stock is owned by hedge funds and other institutional investors.

About DHT

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.