DHT (NYSE:DHT) Downgraded by Kepler Capital Markets to Hold

Kepler Capital Markets cut shares of DHT (NYSE:DHT) from a buy rating to a hold rating in a research note issued to investors on Thursday, Marketbeat.com reports. Kepler Capital Markets currently has $9.70 price target on the shipping company’s stock.

A number of other research firms also recently weighed in on DHT. Jefferies Financial Group reiterated a “buy” rating and set a $14.00 target price on shares of DHT in a research report on Wednesday, November 13th. Stifel Nicolaus cut their price objective on shares of DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. BTIG Research initiated coverage on DHT in a research note on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Fearnley Fonds raised DHT to a “strong-buy” rating in a research note on Friday, September 27th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, DHT has an average rating of “Moderate Buy” and an average target price of $13.54.

DHT Stock Down 1.8 %

DHT stock opened at $8.93 on Thursday. DHT has a twelve month low of $8.69 and a twelve month high of $12.80. The company’s 50-day moving average price is $10.46 and its two-hundred day moving average price is $10.97. The company has a quick ratio of 1.97, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The stock has a market cap of $1.44 billion, a P/E ratio of 8.93 and a beta of -0.37.

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

DHT Cuts Dividend

The business 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 dividend on an annualized basis and a dividend yield of 9.86%. The ex-dividend date of this dividend was Friday, November 22nd. DHT’s dividend payout ratio is currently 88.00%.

Institutional Trading of DHT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DHT. Wasatch Advisors LP bought a new stake in shares of DHT in the 3rd quarter valued at $55,472,000. FMR LLC lifted its holdings in DHT by 10.0% in the third quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock valued at $266,849,000 after buying an additional 2,195,916 shares during the period. Acadian Asset Management LLC boosted its position in DHT by 43.8% during the second quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock valued at $39,184,000 after acquiring an additional 1,032,832 shares during the last quarter. American Century Companies Inc. grew its holdings in 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 acquiring an additional 873,356 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in DHT by 1,144.6% during the 3rd 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 period. Institutional investors and hedge funds 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. 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.