DHT (NYSE:DHT) Earns Buy Rating from Analysts at BTIG Research

BTIG Research began coverage on shares of DHT (NYSE:DHT) in a report published on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $16.00 price objective on the shipping company’s stock.

Several other brokerages have also commented on DHT. Stifel Nicolaus raised their price objective on shares of DHT from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Fearnley Fonds raised DHT to a “strong-buy” rating in a research note on Friday, September 27th. Finally, StockNews.com downgraded DHT from a “hold” rating to a “sell” rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

DHT Price Performance

Shares of DHT stock opened at $11.34 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.33 and a current ratio of 2.87. DHT has a fifty-two week low of $9.28 and a fifty-two week high of $12.80. The firm has a market cap of $1.83 billion, a P/E ratio of 10.80 and a beta of -0.36. The business’s 50 day moving average price is $11.04 and its 200-day moving average price is $11.40.

DHT (NYSE:DHT) last released its quarterly earnings results on Monday, August 12th. The shipping company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). DHT had a net margin of 27.45% and a return on equity of 15.19%. The company had revenue of $103.70 million during the quarter, compared to the consensus estimate of $102.75 million. During the same quarter last year, the firm earned $0.35 EPS. The business’s revenue was down 8.2% on a year-over-year basis. On average, equities research analysts anticipate that DHT will post 1.14 earnings per share for the current year.

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 9.53%. The ex-dividend date was Friday, August 23rd. DHT’s dividend payout ratio (DPR) is 102.86%.

Hedge Funds Weigh In On DHT

Several institutional investors and hedge funds have recently modified their holdings of DHT. Acadian Asset Management LLC increased its stake in DHT by 43.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock valued at $39,184,000 after purchasing an additional 1,032,832 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of DHT by 43.8% during the second quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock valued at $33,183,000 after buying an additional 873,356 shares during the last quarter. LSV Asset Management increased its position in shares of DHT by 28.8% during the second quarter. LSV Asset Management now owns 1,534,614 shares of the shipping company’s stock valued at $17,755,000 after acquiring an additional 343,100 shares in the last quarter. M&G Plc purchased a new position in DHT in the 1st quarter worth approximately $16,417,000. Finally, Vanguard Group Inc. lifted its position in DHT by 15.2% in the 1st quarter. Vanguard Group Inc. now owns 998,097 shares of the shipping company’s stock valued at $11,478,000 after acquiring an additional 132,039 shares in the last quarter. 58.53% of the stock is currently owned by institutional investors.

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.