DHT (NYSE:DHT) Trading Up 6.7% – Should You Buy?

DHT Holdings, Inc. (NYSE:DHT)’s stock price was up 6.7% during trading on Wednesday . The company traded as high as $12.87 and last traded at $12.8250. Approximately 1,192,693 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 1,894,910 shares. The stock had previously closed at $12.02.

Wall Street Analyst Weigh In

DHT has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DHT in a research note on Wednesday, October 8th. Jefferies Financial Group restated a “buy” rating and set a $16.00 target price on shares of DHT in a report on Thursday, October 30th. Evercore ISI lifted their price target on DHT from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. BTIG Research reiterated a “buy” rating and issued a $16.00 price objective on shares of DHT in a research report on Thursday, October 30th. Finally, Wall Street Zen cut shares of DHT from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.67.

DHT Stock Performance

The business has a fifty day moving average of $12.80 and a 200-day moving average of $12.05. The company has a market cap of $2.07 billion, a PE ratio of 10.37 and a beta of -0.07. The company has a current ratio of 2.41, a quick ratio of 2.02 and a debt-to-equity ratio of 0.22.

DHT (NYSE:DHT) last issued its quarterly earnings data on Wednesday, October 29th. The shipping company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. DHT had a return on equity of 17.05% and a net margin of 41.17%.The firm had revenue of $107.35 million for the quarter, compared to analyst estimates of $78.83 million. During the same period last year, the company earned $0.22 EPS. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. Equities research analysts anticipate that DHT Holdings, Inc. will post 0.94 earnings per share for the current fiscal year.

DHT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Wednesday, November 12th. DHT’s payout ratio is presently 58.06%.

Institutional Investors Weigh In On DHT

Institutional investors and hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. boosted its position in DHT by 101.6% during the 3rd quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 1,368 shares in the last quarter. Roble Belko & Company Inc purchased a new position in shares of DHT in the 2nd quarter valued at approximately $30,000. PNC Financial Services Group Inc. boosted its position in shares of DHT by 190.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock valued at $33,000 after purchasing an additional 1,982 shares in the last quarter. Farther Finance Advisors LLC grew its stake in DHT by 344.1% in the second quarter. Farther Finance Advisors LLC now owns 3,162 shares of the shipping company’s stock worth $34,000 after purchasing an additional 2,450 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in 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 purchasing an additional 1,596 shares during the period. 58.53% of the stock is owned by hedge funds and other institutional investors.

About DHT

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.