DHT Holdings, Inc. (NYSE:DHT) Receives Average Rating of “Moderate Buy” from Analysts

DHT Holdings, Inc. (NYSE:DHT) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.3333.

Several equities research analysts recently weighed in on DHT shares. Wall Street Zen upgraded DHT from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Dnb Carnegie cut shares of DHT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings restated a “buy (b)” rating on shares of DHT in a research report on Wednesday, January 21st. Finally, BTIG Research upped their target price on shares of DHT from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 4th.

DHT Stock Performance

NYSE:DHT opened at $18.63 on Friday. The firm has a market capitalization of $3.00 billion, a PE ratio of 14.22 and a beta of -0.09. The business’s fifty day moving average price is $16.92 and its 200 day moving average price is $14.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.80 and a quick ratio of 2.47. DHT has a 12 month low of $8.99 and a 12 month high of $20.55.

DHT (NYSE:DHT) last announced its quarterly earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $117.85 million during the quarter, compared to the consensus estimate of $116.96 million. DHT had a return on equity of 17.70% and a net margin of 42.35%.DHT’s revenue for the quarter was up 37.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 EPS. On average, sell-side analysts anticipate that DHT will post 0.94 earnings per share for the current fiscal year.

DHT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, February 19th were paid a $0.41 dividend. This is a boost from DHT’s previous quarterly dividend of $0.18. This represents a $1.64 annualized dividend and a yield of 8.8%. The ex-dividend date was Thursday, February 19th. DHT’s payout ratio is currently 125.19%.

Institutional Trading of DHT

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in shares of DHT by 360.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,963,693 shares of the shipping company’s stock valued at $35,416,000 after purchasing an additional 2,320,564 shares during the last quarter. Marex Group plc increased its position in DHT by 5,860.2% during the fourth quarter. Marex Group plc now owns 1,084,752 shares of the shipping company’s stock worth $13,245,000 after buying an additional 1,066,552 shares during the period. Qube Research & Technologies Ltd lifted its stake in DHT by 706.0% in the second quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock valued at $11,650,000 after buying an additional 943,990 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in DHT in the fourth quarter valued at approximately $8,927,000. Finally, Public Sector Pension Investment Board boosted its holdings in shares of DHT by 447.5% in the fourth quarter. Public Sector Pension Investment Board now owns 744,601 shares of the shipping company’s stock valued at $9,092,000 after acquiring an additional 608,601 shares during the period. Institutional investors and hedge funds own 58.53% of the company’s stock.

DHT Company 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.