DHT (NYSE:DHT) Reaches New 12-Month High – Still a Buy?

DHT Holdings, Inc. (NYSE:DHT) shares hit a new 52-week high during trading on Friday . The company traded as high as $13.93 and last traded at $13.7520, with a volume of 297275 shares. The stock had previously closed at $13.40.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DHT. Jefferies Financial Group restated a “buy” rating and issued a $16.00 target price on shares of DHT in a report on Thursday, October 30th. Wall Street Zen raised DHT from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. 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. BTIG Research reaffirmed a “buy” rating and set a $16.00 price objective on shares of DHT in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.67.

DHT Stock Up 3.1%

The firm has a market capitalization of $2.22 billion, a P/E ratio of 11.14 and a beta of -0.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.41 and a quick ratio of 2.02. The stock has a fifty day moving average of $12.83 and a 200 day moving average of $12.24.

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. The firm had revenue of $107.35 million during the quarter, compared to analyst estimates of $78.83 million. DHT had a return on equity of 17.05% and a net margin of 41.17%.The business’s revenue was down 14.6% compared to the same quarter last year. During the same period last year, the firm posted $0.22 EPS. On average, research analysts anticipate that DHT Holdings, Inc. will post 0.94 EPS for the current fiscal year.

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Wednesday, November 12th. DHT’s payout ratio is presently 58.06%.

Institutional Investors Weigh In On DHT

A number of hedge funds have recently modified their holdings of DHT. AQR Capital Management LLC grew its holdings in DHT by 178.9% during the first quarter. AQR Capital Management LLC now owns 70,582 shares of the shipping company’s stock valued at $741,000 after purchasing an additional 45,275 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of DHT by 18.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,624 shares of the shipping company’s stock valued at $139,000 after buying an additional 1,935 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of DHT by 344.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,162 shares of the shipping company’s stock valued at $34,000 after buying an additional 2,450 shares during the last quarter. Sullivan Wood Capital Management LLC bought a new position in shares of DHT during the 2nd quarter worth $298,000. Finally, 111 Capital purchased a new stake in DHT in the 2nd quarter worth about $178,000. Institutional investors own 58.53% of the company’s stock.

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.