DHT (NYSE:DHT) Reaches New 12-Month Low – Should You Sell?

DHT Holdings, Inc. (NYSE:DHT) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $9.25 and last traded at $9.36, with a volume of 126198 shares trading hands. The stock had previously closed at $9.42.

Analysts Set New Price Targets

A number of research firms have weighed in on DHT. Jefferies Financial Group reaffirmed a “buy” rating and set a $14.00 price target on shares of DHT in a research report on Wednesday, November 13th. StockNews.com raised DHT from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Stifel Nicolaus reduced their price target on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Fearnley Fonds raised DHT to a “strong-buy” rating in a research report on Friday, September 27th. Finally, BTIG Research assumed coverage on DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price target for the company. Two investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.50.

DHT Trading Down 0.4 %

The company has a market cap of $1.51 billion, a price-to-earnings ratio of 9.42 and a beta of -0.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.97 and a current ratio of 2.41. The firm has a fifty day moving average price of $10.76 and a 200 day moving average price of $11.14.

DHT (NYSE:DHT) last posted its quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. DHT had a return on equity of 15.58% and a net margin of 27.72%. The firm had revenue of $92.64 million for the quarter, compared to analysts’ expectations of $87.51 million. During the same quarter last year, the business earned $0.19 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts predict that DHT Holdings, Inc. will post 1 EPS for the current fiscal year.

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 22nd were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 9.38%. The ex-dividend date of this dividend was Friday, November 22nd. DHT’s dividend payout ratio (DPR) is presently 88.00%.

Institutional Trading of DHT

A number of hedge funds have recently made changes to their positions in DHT. Wasatch Advisors LP acquired a new stake in shares of DHT during the third quarter valued at about $55,472,000. FMR LLC raised its position in shares of DHT by 10.0% during the third quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock worth $266,849,000 after acquiring an additional 2,195,916 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of DHT by 43.8% during the second quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock worth $39,184,000 after acquiring an additional 1,032,832 shares during the last quarter. American Century Companies Inc. raised its position in shares of DHT by 43.8% during the second quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock worth $33,183,000 after acquiring an additional 873,356 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of DHT by 1,144.6% during the third quarter. International Assets Investment Management LLC now owns 678,808 shares of the shipping company’s stock worth $7,487,000 after acquiring an additional 624,266 shares during the last quarter. 58.53% of the stock is owned by institutional investors and hedge funds.

About DHT

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.