DHT (NYSE:DHT) Shares Gap Up to $11.39

DHT Holdings, Inc. (NYSE:DHT) gapped up before the market opened on Thursday . The stock had previously closed at $11.39, but opened at $11.67. DHT shares last traded at $11.69, with a volume of 247,973 shares trading hands.

Analysts Set New Price Targets

DHT has been the topic of a number of research reports. Truist Financial raised their price target on DHT from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 16th. TheStreet upgraded DHT from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Finally, Jefferies Financial Group upgraded DHT from a “hold” rating to a “buy” rating and raised their price target for the company from $11.00 to $14.00 in a research report on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

DHT Stock Performance

The stock has a market cap of $1.83 billion, a PE ratio of 11.48 and a beta of -0.33. The company has a fifty day moving average price of $11.19 and a 200 day moving average price of $10.68. The company has a quick ratio of 2.94, a current ratio of 3.54 and a debt-to-equity ratio of 0.39.

DHT (NYSE:DHT) last released its quarterly earnings data on Tuesday, February 6th. The shipping company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $94.50 million for the quarter, compared to the consensus estimate of $95.78 million. DHT had a return on equity of 15.52% and a net margin of 28.78%. The company’s quarterly revenue was down 19.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 earnings per share. Analysts expect that DHT Holdings, Inc. will post 1.53 earnings per share for the current year.

DHT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 21st were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.88 annualized dividend and a dividend yield of 7.74%. This is an increase from DHT’s previous quarterly dividend of $0.19. DHT’s payout ratio is currently 88.89%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Kestra Advisory Services LLC purchased a new position in DHT during the 3rd quarter valued at about $1,071,000. FMR LLC increased its holdings in DHT by 42.5% during the 3rd quarter. FMR LLC now owns 16,122,321 shares of the shipping company’s stock valued at $166,060,000 after purchasing an additional 4,808,258 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in DHT by 4,118.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 2,670,200 shares of the shipping company’s stock valued at $27,503,000 after purchasing an additional 2,606,900 shares during the period. GoalVest Advisory LLC purchased a new position in DHT during the 4th quarter valued at about $964,000. Finally, International Assets Investment Management LLC increased its holdings in DHT by 880.9% during the 4th quarter. International Assets Investment Management LLC now owns 457,452 shares of the shipping company’s stock valued at $46,631,000 after purchasing an additional 410,816 shares during the period. Hedge funds and other institutional investors own 58.53% of the company’s stock.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. As of March 16, 2023, it had a fleet of 23 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.