DHT (NYSE:DHT) Reaches New 52-Week High – Should You Buy?

DHT Holdings, Inc. (NYSE:DHT) hit a new 52-week high during trading on Monday . The company traded as high as $20.55 and last traded at $18.7770, with a volume of 2885447 shares. The stock had previously closed at $19.49.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DHT. BTIG Research increased their price target on shares of DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Wall Street Zen lowered shares of DHT from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, DHT has a consensus rating of “Moderate Buy” and an average target price of $16.33.

DHT Stock Down 1.2%

The stock has a market cap of $3.09 billion, a P/E ratio of 14.73 and a beta of -0.13. The company has a quick ratio of 2.47, a current ratio of 2.80 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $14.27 and a 200-day simple moving average of $13.06.

DHT (NYSE:DHT) last issued its quarterly earnings data on Wednesday, February 4th. The shipping company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. DHT had a net margin of 42.35% and a return on equity of 17.70%. The business had revenue of $117.80 million during the quarter, compared to analysts’ expectations of $116.96 million. During the same period in the previous year, the company earned $0.34 earnings per share. DHT’s revenue for the quarter was up 37.8% on a year-over-year basis. Analysts expect that DHT Holdings, Inc. will post 0.94 EPS for the current year.

DHT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 19th were given a $0.41 dividend. This is an increase from DHT’s previous quarterly dividend of $0.18. This represents a $1.64 annualized dividend and a dividend yield of 8.5%. The ex-dividend date of this dividend was Thursday, February 19th. DHT’s dividend payout ratio (DPR) is 125.19%.

Hedge Funds Weigh In On DHT

Several large investors have recently made changes to their positions in the business. GSA Capital Partners LLP lifted its stake in DHT by 193.7% during the third quarter. GSA Capital Partners LLP now owns 195,438 shares of the shipping company’s stock worth $2,335,000 after purchasing an additional 128,900 shares during the period. Harvey Capital Management Inc. acquired a new position in shares of DHT in the 3rd quarter worth approximately $2,368,000. Bailard Inc. acquired a new position in shares of DHT in the 2nd quarter worth approximately $623,000. Thrivent Financial for Lutherans lifted its position in shares of DHT by 112.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 172,168 shares of the shipping company’s stock worth $2,057,000 after buying an additional 90,993 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in DHT in the 2nd quarter valued at $329,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

About DHT

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.