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

DHT Holdings, Inc. (NYSE:DHT) shares reached a new 52-week high during trading on Friday . The company traded as high as $12.33 and last traded at $12.39, with a volume of 8145 shares changing hands. The stock had previously closed at $12.27.

Wall Street Analyst Weigh In

DHT has been the subject of several recent analyst reports. Zacks Research raised DHT to a “hold” rating in a research note on Monday, August 11th. Jefferies Financial Group reissued a “buy” rating and set a $15.00 price objective on shares of DHT in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, DHT presently has a consensus rating of “Moderate Buy” and an average price target of $12.94.

DHT Stock Performance

The company has a quick ratio of 1.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $11.28 and a 200 day moving average price of $11.03. The firm has a market capitalization of $2.00 billion, a PE ratio of 10.54 and a beta of 0.03.

DHT (NYSE:DHT) last posted its earnings results on Wednesday, August 6th. The shipping company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The firm had revenue of $92.80 million for the quarter, compared to analyst estimates of $95.41 million. DHT had a return on equity of 16.36% and a net margin of 36.58%.DHT’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Research analysts expect that DHT Holdings, Inc. will post 0.94 earnings per share for the current year.

DHT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Monday, August 18th. This is an increase from DHT’s previous quarterly dividend of $0.17. DHT’s payout ratio is currently 81.36%.

Hedge Funds Weigh In On DHT

Several institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in DHT by 81.5% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 1,073 shares during the period. Roble Belko & Company Inc purchased a new position in shares of DHT in the 2nd quarter valued at about $30,000. Tower Research Capital LLC TRC grew its position in shares of DHT by 84.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,771 shares of the shipping company’s stock worth $26,000 after buying an additional 1,265 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of DHT by 190.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock worth $33,000 after buying an additional 1,982 shares during the period. Finally, CWM LLC raised its holdings in DHT by 223.4% in the first quarter. CWM LLC now owns 3,063 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 2,116 shares in the last quarter. Institutional investors and hedge funds 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.