DHT’s (DHT) “Buy” Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of DHT (NYSE:DHT) in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a $14.00 price objective on the shipping company’s stock.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus cut their price objective on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. BTIG Research initiated coverage on DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price objective for the company. Fearnley Fonds upgraded DHT to a “strong-buy” rating in a research note on Friday, September 27th. Finally, StockNews.com downgraded DHT from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

DHT Trading Down 3.2 %

NYSE DHT opened at $10.45 on Wednesday. The business has a 50 day simple moving average of $10.92 and a 200 day simple moving average of $11.27. DHT has a one year low of $9.28 and a one year high of $12.80. The stock has a market capitalization of $1.69 billion, a P/E ratio of 10.45 and a beta of -0.36. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 2.33.

DHT (NYSE:DHT) last posted its earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $92.64 million for the quarter, compared to analyst estimates of $87.51 million. DHT had a return on equity of 15.58% and a net margin of 27.72%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. Research analysts expect that DHT will post 1 earnings per share for the current year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 22nd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.88 annualized dividend and a yield of 8.42%. DHT’s dividend payout ratio is currently 108.00%.

Institutional Trading of DHT

Several hedge funds and other institutional investors have recently made changes to their positions in DHT. Quarry LP lifted its stake in shares of DHT by 2,494.6% during the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock valued at $45,000 after buying an additional 3,717 shares during the period. Headlands Technologies LLC acquired a new position in shares of DHT in the 1st quarter valued at about $51,000. Nisa Investment Advisors LLC lifted its position in DHT by 52.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock valued at $76,000 after purchasing an additional 2,361 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of DHT during the 2nd quarter worth about $78,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of DHT in the 2nd quarter worth approximately $80,000. Hedge funds and other institutional investors 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.