DHT (NYSE:DHT) Sets New 52-Week High Following Dividend Announcement

DHT Holdings, Inc. (NYSE:DHT)’s stock price reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $12.45 and last traded at $12.17, with a volume of 618986 shares trading hands. The stock had previously closed at $12.22.

The newly announced dividend which will be paid on Friday, May 31st. Stockholders of record on Friday, May 24th will be paid a $0.29 dividend. This is a positive change from DHT’s previous quarterly dividend of $0.22. This represents a $1.16 dividend on an annualized basis and a dividend yield of 9.28%. The ex-dividend date is Thursday, May 23rd. DHT’s dividend payout ratio is currently 83.81%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Jefferies Financial Group raised DHT from a “hold” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $14.00 in a report on Thursday, March 21st. Truist Financial upped their price objective on DHT from $14.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 16th. TheStreet raised DHT from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $12.00 price target on shares of DHT in a research report on Wednesday. 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.33.

DHT Trading Down 1.1 %

The company has a quick ratio of 2.94, a current ratio of 3.54 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average of $11.48 and a 200-day moving average of $10.90. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 12.04 and a beta of -0.34.

DHT (NYSE:DHT) last issued its quarterly earnings data on Tuesday, May 14th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). DHT had a return on equity of 16.36% and a net margin of 29.58%. The business had revenue of $106.30 million during the quarter, compared to the consensus estimate of $106.87 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, research analysts forecast that DHT Holdings, Inc. will post 1.52 earnings per share for the current year.

Institutional Trading of DHT

Institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC lifted its position in shares of DHT by 18.4% during the 1st quarter. Tidal Investments LLC now owns 75,490 shares of the shipping company’s stock worth $868,000 after purchasing an additional 11,728 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of DHT by 6.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 410,892 shares of the shipping company’s stock valued at $4,725,000 after acquiring an additional 23,852 shares during the period. BTG Pactual Global Asset Management Ltd acquired a new stake in shares of DHT in the first quarter worth $383,000. Price T Rowe Associates Inc. MD increased its position in DHT by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,082 shares of the shipping company’s stock worth $450,000 after acquiring an additional 4,836 shares during the period. Finally, Lazard Asset Management LLC raised its stake in DHT by 79.6% during the 1st quarter. Lazard Asset Management LLC now owns 12,522 shares of the shipping company’s stock valued at $144,000 after purchasing an additional 5,549 shares during the last quarter. 58.53% of the stock is currently owned by institutional investors and hedge funds.

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.