DHT (NYSE:DHT) Reaches New 12-Month Low – Time to Sell?

DHT Holdings, Inc. (NYSE:DHT)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $9.16 and last traded at $9.16, with a volume of 386734 shares changing hands. The stock had previously closed at $9.36.

Analysts Set New Price Targets

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

DHT Price Performance

The company’s fifty day moving average price is $10.57 and its two-hundred day moving average price is $10.99. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 9.36 and a beta of -0.37. The company has a quick ratio of 1.97, a current ratio of 2.41 and a debt-to-equity ratio of 0.35.

DHT (NYSE:DHT) last announced its earnings results on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, topping 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 business had revenue of $92.64 million during the quarter, compared to analysts’ expectations of $87.51 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. On average, equities research analysts forecast that DHT Holdings, Inc. will post 1 EPS for the current fiscal year.

DHT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 22nd were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 9.64%. The ex-dividend date was Friday, November 22nd. DHT’s payout ratio is 88.00%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Quarry LP boosted its holdings in DHT by 2,494.6% during the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after purchasing an additional 3,717 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in DHT during the third quarter worth $50,000. Nisa Investment Advisors LLC raised its position in DHT by 52.2% during the third quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock worth $76,000 after acquiring an additional 2,361 shares in the last quarter. Summit Securities Group LLC bought a new stake in DHT during the second quarter worth $78,000. Finally, Point72 Hong Kong Ltd bought a new stake in DHT during the second quarter worth $80,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

About DHT

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.