Seven Eight Capital LP Increases Position in DHT Holdings, Inc. (NYSE:DHT)

Seven Eight Capital LP grew its holdings in shares of DHT Holdings, Inc. (NYSE:DHT) by 73.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 153,600 shares of the shipping company’s stock after buying an additional 65,129 shares during the period. Seven Eight Capital LP’s holdings in DHT were worth $1,507,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of DHT. Campbell & CO Investment Adviser LLC bought a new position in DHT in the 4th quarter valued at $480,000. Olympiad Research LP boosted its stake in shares of DHT by 6.6% during the fourth quarter. Olympiad Research LP now owns 41,180 shares of the shipping company’s stock valued at $404,000 after purchasing an additional 2,552 shares during the period. Trexquant Investment LP bought a new position in shares of DHT in the fourth quarter worth about $2,756,000. Dynamic Technology Lab Private Ltd purchased a new position in DHT in the 4th quarter worth about $760,000. Finally, Navellier & Associates Inc. lifted its holdings in DHT by 8.5% during the 4th quarter. Navellier & Associates Inc. now owns 161,313 shares of the shipping company’s stock valued at $1,582,000 after buying an additional 12,589 shares in the last quarter. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DHT shares. Stifel Nicolaus restated a “hold” rating and issued a $12.00 target price on shares of DHT in a research note on Wednesday, May 15th. Jefferies Financial Group raised DHT from a “hold” rating to a “buy” rating and increased their price objective for the stock from $11.00 to $14.00 in a research note on Thursday, March 21st. Finally, Truist Financial lifted their target price on DHT from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.33.

DHT Stock Down 1.5 %

Shares of DHT traded down $0.18 during mid-day trading on Friday, hitting $11.58. The company’s stock had a trading volume of 1,047,988 shares, compared to its average volume of 1,698,619. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 11.03 and a beta of -0.32. The company’s 50-day moving average is $11.79 and its 200-day moving average is $11.07. The company has a current ratio of 3.30, a quick ratio of 2.69 and a debt-to-equity ratio of 0.35. DHT Holdings, Inc. has a 52-week low of $7.80 and a 52-week high of $12.80.

DHT (NYSE:DHT) last posted its earnings results on Tuesday, May 14th. The shipping company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). DHT had a return on equity of 16.34% and a net margin of 29.58%. The company had revenue of $106.30 million for the quarter, compared to analysts’ expectations of $106.87 million. During the same quarter in the prior year, the company earned $0.23 EPS. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. On average, equities research analysts forecast that DHT Holdings, Inc. will post 1.49 EPS for the current fiscal year.

DHT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 24th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.16 dividend on an annualized basis and a yield of 10.02%. This is an increase from DHT’s previous quarterly dividend of $0.22. DHT’s dividend payout ratio (DPR) is presently 110.48%.

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.