DHT (NYSE:DHT) Reaches New 52-Week High – Time to Buy?

DHT Holdings, Inc. (NYSE:DHT)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.38 and last traded at $13.0150, with a volume of 2205639 shares trading hands. The stock had previously closed at $13.28.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of DHT in a research note on Wednesday, October 8th. BTIG Research restated a “buy” rating and set a $16.00 price target on shares of DHT in a research note on Thursday, October 30th. Evercore ISI upped their price target on shares of DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Zacks Research upgraded shares of DHT to a “hold” rating in a research note on Monday, August 11th. Finally, Jefferies Financial Group restated a “buy” rating and set a $16.00 price target on shares of DHT in a research note on Thursday, October 30th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.18.

DHT Price Performance

The firm’s fifty day moving average price is $12.18 and its 200 day moving average price is $11.56. The firm has a market capitalization of $2.09 billion, a PE ratio of 10.50 and a beta of 0.01. The company has a current ratio of 2.33, a quick ratio of 1.96 and a debt-to-equity ratio of 0.23.

DHT (NYSE:DHT) last released its quarterly earnings data on Wednesday, October 29th. The shipping company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.17 by $0.11. The business had revenue of $79.10 million for the quarter, compared to the consensus estimate of $78.83 million. DHT had a net margin of 41.17% and a return on equity of 17.18%. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. As a group, equities analysts forecast that DHT Holdings, Inc. will post 0.94 earnings per share for the current year.

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, November 12th. DHT’s dividend payout ratio is 58.06%.

Institutional Trading of DHT

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in DHT by 81.5% during the first quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company’s stock worth $25,000 after buying an additional 1,073 shares in the last quarter. Roble Belko & Company Inc purchased a new stake in DHT during the second quarter worth $30,000. CWM LLC boosted its holdings in DHT by 223.4% during the first quarter. CWM LLC now owns 3,063 shares of the shipping company’s stock worth $32,000 after buying an additional 2,116 shares in the last quarter. Federated Hermes Inc. boosted its holdings in DHT by 101.6% during the third quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock worth $32,000 after buying an additional 1,368 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in DHT by 190.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock worth $33,000 after buying an additional 1,982 shares in the last quarter. 58.53% of the stock is owned by hedge funds and other institutional investors.

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.