DHT (NYSE:DHT) Hits New 12-Month High – Here’s Why

DHT Holdings, Inc. (NYSE:DHTGet Free Report) shares reached a new 52-week high on Friday . The company traded as high as $14.55 and last traded at $14.5630, with a volume of 163946 shares traded. The stock had previously closed at $14.23.

Trending Headlines about DHT

Here are the key news stories impacting DHT this week:

Analyst Ratings Changes

Several brokerages recently weighed in on DHT. Evercore ISI boosted their price objective on shares of DHT from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. BTIG Research raised their price objective on DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a research report on Wednesday, January 21st. Jefferies Financial Group reiterated a “buy” rating and set a $16.00 price objective on shares of DHT in a research report on Thursday, October 30th. Finally, Wall Street Zen downgraded DHT from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.33.

Get Our Latest Stock Analysis on DHT

DHT Price Performance

The stock has a market capitalization of $2.37 billion, a PE ratio of 11.29 and a beta of -0.07. The firm’s fifty day moving average price is $12.96 and its two-hundred day moving average price is $12.42. The company has a quick ratio of 2.02, a current ratio of 2.41 and a debt-to-equity ratio of 0.22.

DHT (NYSE:DHTGet Free Report) last released its quarterly earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $117.80 million for the quarter, compared to the consensus estimate of $116.96 million. DHT had a return on equity of 17.91% and a net margin of 42.35%.The company’s revenue for the quarter was up 37.8% on a year-over-year basis. During the same period last year, the business posted $0.34 EPS. On average, equities analysts predict that DHT Holdings, Inc. will post 0.94 earnings per share for the current year.

DHT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 19th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 11.1%. This is a positive change from DHT’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, February 19th. DHT’s dividend payout ratio (DPR) is presently 58.06%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Harvey Capital Management Inc. purchased a new position in shares of DHT during the 3rd quarter valued at about $2,368,000. Bailard Inc. bought a new stake in DHT during the 2nd quarter worth approximately $623,000. American Century Companies Inc. raised its stake in DHT by 11.2% during the 2nd quarter. American Century Companies Inc. now owns 4,899,375 shares of the shipping company’s stock worth $52,962,000 after acquiring an additional 491,717 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in DHT during the second quarter valued at approximately $329,000. Finally, Campbell & CO Investment Adviser LLC boosted its position in shares of DHT by 75.3% in the third quarter. Campbell & CO Investment Adviser LLC now owns 199,595 shares of the shipping company’s stock worth $2,385,000 after purchasing an additional 85,756 shares during the period. Hedge funds and other institutional investors own 58.53% of the company’s stock.

DHT Company Profile

(Get Free Report)

DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.

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