DHT (NYSE:DHT) Hits New 52-Week High After Analyst Upgrade

DHT Holdings, Inc. (NYSE:DHT)’s stock price reached a new 52-week high during mid-day trading on Wednesday after Evercore ISI raised their price target on the stock from $14.00 to $15.00. Evercore ISI currently has an outperform rating on the stock. DHT traded as high as $13.19 and last traded at $13.0590, with a volume of 306713 shares changing hands. The stock had previously closed at $12.90.

Several other analysts have also issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of DHT in a research report on Wednesday, October 8th. Zacks Research upgraded shares of DHT to a “hold” rating in a research report on Monday, August 11th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $15.00 target price on shares of DHT in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.23.

Institutional Trading of DHT

Institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its position in DHT by 56.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,758 shares of the shipping company’s stock valued at $226,000 after buying an additional 7,134 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its position in DHT by 75.3% in the third quarter. Campbell & CO Investment Adviser LLC now owns 199,595 shares of the shipping company’s stock valued at $2,385,000 after buying an additional 85,756 shares in the last quarter. Pinion Investment Advisors LLC boosted its position in DHT by 24.4% in the third quarter. Pinion Investment Advisors LLC now owns 71,103 shares of the shipping company’s stock valued at $889,000 after buying an additional 13,957 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in DHT in the third quarter valued at about $70,000. Finally, GoalVest Advisory LLC boosted its position in DHT by 13.9% in the third quarter. GoalVest Advisory LLC now owns 131,625 shares of the shipping company’s stock valued at $1,573,000 after buying an additional 16,044 shares in the last quarter. 58.53% of the stock is currently owned by institutional investors and hedge funds.

DHT Stock Performance

The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 11.02 and a beta of 0.01. 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 stock’s 50-day simple moving average is $12.09 and its 200 day simple moving average is $11.49.

DHT (NYSE:DHT) last released its quarterly earnings results on Wednesday, October 29th. The shipping company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. DHT had a net margin of 36.58% and a return on equity of 16.36%. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. Analysts expect that DHT Holdings, Inc. will post 0.94 earnings per share for the current fiscal year.

DHT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 7.4%. This is a boost from DHT’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, August 18th. DHT’s dividend payout ratio (DPR) is presently 81.36%.

DHT Company Profile

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.