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

DHT Holdings, Inc. (NYSE:DHT) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $17.55 and last traded at $17.5160, with a volume of 4902224 shares. The stock had previously closed at $17.45.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a research report on Wednesday, January 21st. Evercore lifted their target price on shares of DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Jefferies Financial Group reiterated a “buy” rating and issued a $16.00 target price on shares of DHT in a research note on Thursday, October 30th. BTIG Research raised their price target on shares of DHT from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Finally, Wall Street Zen cut shares of DHT from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.33.

DHT Trading Up 0.4%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.47 and a current ratio of 2.80. The company has a 50 day moving average of $13.75 and a 200 day moving average of $12.85. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 13.37 and a beta of -0.07.

DHT (NYSE:DHT) last issued its earnings results on Wednesday, February 4th. The shipping company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $117.80 million during the quarter, compared to analysts’ expectations of $116.96 million. DHT had a net margin of 42.35% and a return on equity of 17.70%. The company’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share. On average, research analysts predict that DHT Holdings, Inc. will post 0.94 EPS for the current fiscal year.

DHT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 19th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 9.4%. This is an increase from DHT’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, February 19th. DHT’s dividend payout ratio is presently 125.19%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in shares of DHT by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 10,633,115 shares of the shipping company’s stock valued at $127,067,000 after purchasing an additional 66,242 shares during the period. American Century Companies Inc. boosted its holdings in DHT by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 5,280,063 shares of the shipping company’s stock valued at $63,097,000 after purchasing an additional 380,688 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of DHT by 1.5% in the 4th quarter. Victory Capital Management Inc. now owns 3,008,679 shares of the shipping company’s stock valued at $36,736,000 after buying an additional 44,986 shares during the period. Wasatch Advisors LP grew its stake in shares of DHT by 11.9% in the 3rd quarter. Wasatch Advisors LP now owns 2,329,182 shares of the shipping company’s stock valued at $27,834,000 after buying an additional 248,620 shares during the period. Finally, State Street Corp increased its holdings in shares of DHT by 0.8% during the 4th quarter. State Street Corp now owns 2,269,460 shares of the shipping company’s stock worth $27,710,000 after buying an additional 17,221 shares during the last quarter. Hedge funds and other institutional investors own 58.53% of the company’s stock.

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.