DHT (NYSE:DHT) Cut to Sell at StockNews.com

StockNews.com cut shares of DHT (NYSE:DHT) from a hold rating to a sell rating in a report published on Monday morning.

Separately, Stifel Nicolaus lifted their price target on shares of DHT from $12.00 to $13.00 and gave the company a hold rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $14.67.

DHT Stock Performance

Shares of DHT stock opened at $10.63 on Monday. The stock’s fifty day simple moving average is $11.04 and its 200 day simple moving average is $11.37. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.71 billion, a PE ratio of 10.12 and a beta of -0.36. DHT has a 12 month low of $8.60 and a 12 month high of $12.80.

DHT (NYSE:DHT) last announced its quarterly earnings results on Monday, August 12th. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). DHT had a return on equity of 15.19% and a net margin of 27.45%. The business had revenue of $103.70 million during the quarter, compared to the consensus estimate of $102.75 million. During the same quarter last year, the company earned $0.35 earnings per share. The firm’s revenue was down 8.2% compared to the same quarter last year. On average, research analysts predict that DHT will post 1.14 EPS for the current year.

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were issued a dividend of $0.27 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 10.16%. DHT’s payout ratio is presently 102.86%.

Institutional Investors Weigh In On DHT

A number of hedge funds and other institutional investors have recently bought and sold shares of DHT. Greenlight Capital Inc. grew its stake in shares of DHT by 86.7% during the 4th quarter. Greenlight Capital Inc. now owns 3,779,880 shares of the shipping company’s stock worth $37,081,000 after acquiring an additional 1,755,060 shares in the last quarter. M&G Plc bought a new position in DHT in the first quarter valued at $16,417,000. M&G Investment Management Ltd. acquired a new stake in DHT in the 4th quarter valued at $11,223,000. Acadian Asset Management LLC lifted its position in DHT by 43.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock worth $39,184,000 after buying an additional 1,032,832 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of DHT by 43.8% during the 2nd quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock worth $33,183,000 after buying an additional 873,356 shares during the last quarter. Institutional investors and hedge funds own 58.53% of the company’s stock.

DHT Company Profile

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.