DHT (NYSE:DHT) Hits New 1-Year Low – Here’s Why

DHT Holdings, Inc. (NYSE:DHT)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $8.67 and last traded at $8.75, with a volume of 166748 shares traded. The stock had previously closed at $8.94.

Wall Street Analyst Weigh In

DHT has been the subject of several research analyst reports. BTIG Research began coverage on shares of DHT in a research report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price target for the company. Stifel Nicolaus decreased their target price on 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 DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Jefferies Financial Group reiterated a “buy” rating and set a $14.00 price target on shares of DHT in a report on Wednesday, November 13th. Finally, Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a research report on Friday, September 27th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, DHT has an average rating of “Moderate Buy” and a consensus target price of $13.54.

DHT Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97. The firm has a market capitalization of $1.46 billion, a P/E ratio of 8.95 and a beta of -0.37. The business has a 50 day moving average price of $10.34 and a 200 day moving average price of $10.91.

DHT (NYSE:DHT) last announced 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. 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%. DHT’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 EPS. On average, analysts predict that DHT Holdings, Inc. will post 1 earnings per share for the current year.

DHT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 22nd were paid a $0.22 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.88 dividend on an annualized basis and a yield of 9.76%. DHT’s payout ratio is currently 88.00%.

Hedge Funds Weigh In On DHT

A number of hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in shares of DHT by 41,626.3% during the second quarter. Blue Trust Inc. now owns 7,928 shares of the shipping company’s stock worth $91,000 after buying an additional 7,909 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of DHT by 12.4% in the second quarter. Bank of New York Mellon Corp now owns 466,751 shares of the shipping company’s stock valued at $5,400,000 after buying an additional 51,522 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of DHT in the second quarter valued at about $376,000. Summit Securities Group LLC bought a new stake in DHT during the 2nd quarter worth about $78,000. Finally, TrueMark Investments LLC bought a new position in shares of DHT in the second quarter worth about $4,371,000. 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.