Citigroup Inc. Sells 69,162 Shares of DHT Holdings, Inc. $DHT

Citigroup Inc. cut its holdings in DHT Holdings, Inc. (NYSE:DHT) by 26.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 193,557 shares of the shipping company’s stock after selling 69,162 shares during the period. Citigroup Inc. owned about 0.12% of DHT worth $2,313,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. grew its position in DHT by 101.6% in the third quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,368 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in DHT by 190.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock valued at $33,000 after buying an additional 1,982 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in DHT by 91.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after buying an additional 1,596 shares in the last quarter. Fifth Third Bancorp lifted its position in DHT by 96.5% during the 3rd quarter. Fifth Third Bancorp now owns 4,159 shares of the shipping company’s stock worth $50,000 after buying an additional 2,042 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of DHT during the 3rd quarter worth about $70,000. Institutional investors own 58.53% of the company’s stock.

DHT Stock Down 2.6%

Shares of DHT stock opened at $18.06 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.47 and a current ratio of 2.80. The firm’s 50-day moving average is $14.94 and its 200-day moving average is $13.32. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 13.78 and a beta of -0.13. DHT Holdings, Inc. has a 52-week low of $8.99 and a 52-week high of $20.55.

DHT (NYSE:DHT) last issued its earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. The business had revenue of $117.80 million during the quarter, compared to the consensus estimate of $116.96 million. DHT had a net margin of 42.35% and a return on equity of 17.70%. DHT’s revenue was up 37.8% on a year-over-year basis. During the same period last year, the business posted $0.34 EPS. Sell-side analysts predict that DHT Holdings, Inc. will post 0.94 EPS for the current year.

DHT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 19th were given a $0.41 dividend. The ex-dividend date of this dividend was Thursday, February 19th. This is a positive change from DHT’s previous quarterly dividend of $0.18. This represents a $1.64 dividend on an annualized basis and a dividend yield of 9.1%. DHT’s payout ratio is 125.19%.

Wall Street Analyst Weigh In

DHT has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of DHT in a report on Wednesday, January 21st. Wall Street Zen cut DHT from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Dnb Carnegie downgraded DHT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Finally, BTIG Research boosted their price target on DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Four 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 has a consensus rating of “Moderate Buy” and an average price target of $16.33.

DHT 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.