DHT (NYSE:DHT) Stock Price Down 5.4% – Here’s Why

DHT Holdings, Inc. (NYSE:DHT)’s share price fell 5.4% during trading on Thursday . The stock traded as low as $16.90 and last traded at $16.7630. 412,582 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 3,898,071 shares. The stock had previously closed at $17.72.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DHT. Weiss Ratings upgraded DHT from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, June 23rd. Evercore downgraded shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective for the company. in a research note on Wednesday, April 22nd. Wall Street Zen upgraded shares of DHT from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, BTIG Research raised their target price on shares of DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.33.

DHT Stock Down 6.1%

The stock has a fifty day moving average of $17.71 and a two-hundred day moving average of $16.55. The company has a quick ratio of 1.62, a current ratio of 1.83 and a debt-to-equity ratio of 0.33. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 8.08 and a beta of -0.11.

DHT (NYSE:DHT) last announced its quarterly earnings results on Tuesday, May 5th. The shipping company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $157.20 million during the quarter, compared to analyst estimates of $152.15 million. DHT had a return on equity of 27.54% and a net margin of 58.54%.The firm’s revenue was up 134.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 earnings per share.

DHT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were issued a $0.64 dividend. The ex-dividend date was Thursday, May 21st. This is a positive change from DHT’s previous quarterly dividend of $0.41. This represents a $2.56 annualized dividend and a yield of 15.4%. DHT’s payout ratio is 124.27%.

Institutional Investors Weigh In On DHT

Several institutional investors have recently bought and sold shares of DHT. EverSource Wealth Advisors LLC increased its position in shares of DHT by 91.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after acquiring an additional 1,596 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in DHT by 568.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock worth $43,000 after purchasing an additional 3,022 shares during the period. Western Wealth Management LLC acquired a new stake in DHT in the 1st quarter valued at $46,000. Sound Income Strategies LLC purchased a new position in DHT in the fourth quarter valued at about $58,000. Finally, Leonteq Securities AG purchased a new position in DHT in the fourth quarter valued at about $59,000. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

DHT Company Profile

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.