DHT (NYSE:DHT) Reaches New 12-Month Low – Should You Sell?

DHT Holdings, Inc. (NYSE:DHT)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $9.25 and last traded at $9.36, with a volume of 126198 shares trading hands. The stock had previously closed at $9.42.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DHT. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $14.00 target price on shares of DHT in a research report on Wednesday, November 13th. StockNews.com raised shares of DHT from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. BTIG Research assumed coverage on shares of DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price on the stock. Finally, Stifel Nicolaus dropped their target price on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, DHT has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

DHT Price Performance

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 stock’s 50 day simple moving average is $10.76 and its two-hundred day simple moving average is $11.14. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 9.42 and a beta of -0.36.

DHT (NYSE:DHT) last issued its earnings results on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. DHT had a net margin of 27.72% and a return on equity of 15.58%. The company had revenue of $92.64 million for the quarter, compared to the consensus estimate of $87.51 million. During the same quarter in the previous year, the company earned $0.19 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, analysts forecast that DHT Holdings, Inc. will post 1 earnings per share for the current fiscal year.

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 22nd were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.88 annualized dividend and a yield of 9.38%. DHT’s dividend payout ratio is currently 88.00%.

Institutional Trading of DHT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of DHT by 10.0% in the 3rd quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock valued at $266,849,000 after acquiring an additional 2,195,916 shares during the last quarter. Wasatch Advisors LP bought a new stake in shares of DHT in the 3rd quarter valued at about $55,472,000. Acadian Asset Management LLC increased its stake in shares of DHT by 43.8% in 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 acquiring an additional 1,032,832 shares during the last quarter. American Century Companies Inc. increased its stake in shares of DHT by 43.8% in the 2nd quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock valued at $33,183,000 after acquiring an additional 873,356 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of DHT by 15.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,102,800 shares of the shipping company’s stock valued at $23,194,000 after acquiring an additional 284,900 shares during the last quarter. 58.53% of the stock is 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.