DHT Holdings, Inc. (NYSE:DHT) Given Average Rating of “Moderate Buy” by Brokerages

DHT Holdings, Inc. (NYSE:DHT) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $19.3333.

A number of analysts have issued reports on DHT shares. BTIG Research boosted their price objective on shares of DHT from $18.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Wall Street Zen raised shares of DHT from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. 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 report on Wednesday, April 22nd. Dnb Carnegie downgraded shares of DHT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings downgraded shares of DHT from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 4th.

Institutional Trading of DHT

Institutional investors have recently bought and sold shares of the business. Western Wealth Management LLC bought a new stake in shares of DHT during the 1st quarter worth approximately $46,000. EverSource Wealth Advisors LLC lifted its holdings in shares of DHT by 91.8% during the 2nd 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 during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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 acquiring an additional 3,022 shares during the period. Fifth Third Bancorp lifted its holdings in shares of DHT by 96.5% during the 3rd quarter. Fifth Third Bancorp now owns 4,159 shares of the shipping company’s stock worth $50,000 after acquiring an additional 2,042 shares during the period. Finally, Sound Income Strategies LLC bought a new stake in shares of DHT during the 4th quarter worth approximately $58,000. Institutional investors own 58.53% of the company’s stock.

DHT Stock Down 1.6%

Shares of DHT opened at $18.11 on Thursday. DHT has a 52 week low of $10.61 and a 52 week high of $20.55. The firm has a market cap of $2.92 billion, a P/E ratio of 8.79 and a beta of -0.12. The firm’s 50-day simple moving average is $17.69 and its 200 day simple moving average is $15.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.62 and a current ratio of 1.83.

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

DHT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were issued a $0.64 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $2.56 dividend on an annualized basis and a yield of 14.1%. This is an increase from DHT’s previous quarterly dividend of $0.41. DHT’s payout ratio is presently 124.27%.

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.