DHT (NYSE:DHT) Reaches New 52-Week High – Time to Buy?

DHT Holdings, Inc. (NYSE:DHT) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.38 and last traded at $13.0150, with a volume of 2205639 shares. The stock had previously closed at $13.28.

Analyst Upgrades and Downgrades

DHT has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a report on Wednesday, October 8th. Evercore ISI increased their price objective on shares of DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $16.00 price objective on shares of DHT in a report on Thursday, October 30th. BTIG Research reaffirmed a “buy” rating and set a $16.00 price objective on shares of DHT in a report on Thursday, October 30th. Finally, Zacks Research raised shares of DHT to a “hold” rating in a report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.18.

DHT Price Performance

The stock’s 50-day moving average price is $12.18 and its 200 day moving average price is $11.56. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 10.50 and a beta of 0.01. The company has a quick ratio of 1.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.23.

DHT (NYSE:DHT) last issued its earnings results on Wednesday, October 29th. The shipping company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. The business had revenue of $79.10 million during the quarter, compared to analysts’ expectations of $78.83 million. DHT had a net margin of 41.17% and a return on equity of 17.18%. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 earnings per share. Equities research analysts expect that DHT Holdings, Inc. will post 0.94 earnings per share for the current fiscal year.

DHT Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Wednesday, November 12th. DHT’s dividend payout ratio is 58.06%.

Institutional Investors Weigh In On DHT

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of DHT by 81.5% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company’s stock valued at $25,000 after buying an additional 1,073 shares during the last quarter. Roble Belko & Company Inc acquired a new stake in shares of DHT in the second quarter valued at about $30,000. CWM LLC raised its position in shares of DHT by 223.4% in the first quarter. CWM LLC now owns 3,063 shares of the shipping company’s stock valued at $32,000 after buying an additional 2,116 shares during the last quarter. Federated Hermes Inc. increased its position in DHT by 101.6% during the third quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,368 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in DHT by 190.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock worth $33,000 after purchasing an additional 1,982 shares during the last quarter. 58.53% of the stock is currently owned by institutional investors and hedge funds.

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.