JPMorgan Chase & Co. Cuts Stock Holdings in DHT Holdings, Inc. $DHT

JPMorgan Chase & Co. decreased its position in DHT Holdings, Inc. (NYSE:DHT) by 38.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,436 shares of the shipping company’s stock after selling 152,632 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.15% of DHT worth $2,957,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. boosted its holdings in DHT by 101.6% during the third quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,368 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in DHT by 91.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock valued at $36,000 after buying an additional 1,596 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of 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. Sunbelt Securities Inc. bought a new position in shares of DHT during the 3rd quarter worth approximately $60,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of DHT in the 3rd quarter worth approximately $70,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on DHT. Dnb Carnegie downgraded DHT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Wall Street Zen raised DHT from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DHT in a research report on Wednesday, January 21st. Finally, BTIG Research lifted their target price on DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.33.

DHT Trading Down 0.1%

NYSE:DHT opened at $18.63 on Friday. The company has a current ratio of 2.80, a quick ratio of 2.47 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $3.00 billion, a PE ratio of 14.22 and a beta of -0.09. The firm’s 50 day moving average is $16.92 and its 200 day moving average is $14.15. DHT Holdings, Inc. has a 12 month low of $8.99 and a 12 month high of $20.55.

DHT (NYSE:DHT) last announced its quarterly earnings data on Wednesday, February 4th. The shipping company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. The business had revenue of $117.85 million during the quarter, compared to analyst estimates of $116.96 million. DHT had a return on equity of 17.70% and a net margin of 42.35%.DHT’s revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 earnings per share. Sell-side analysts expect that DHT Holdings, Inc. will post 0.94 earnings per share for the current year.

DHT Increases Dividend

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

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.