Renaissance Technologies LLC Lowers Stock Holdings in DHT Holdings, Inc. $DHT

Renaissance Technologies LLC cut its holdings in DHT Holdings, Inc. (NYSE:DHT) by 19.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,878,745 shares of the shipping company’s stock after selling 449,100 shares during the period. Renaissance Technologies LLC’s holdings in DHT were worth $34,325,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in DHT. Arrowstreet Capital Limited Partnership boosted its holdings in shares of DHT by 74.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company’s stock worth $78,849,000 after purchasing an additional 1,836,892 shares during the last quarter. Marex Group plc grew its position in shares of DHT by 5,860.2% in the fourth quarter. Marex Group plc now owns 1,084,752 shares of the shipping company’s stock valued at $13,245,000 after purchasing an additional 1,066,552 shares during the period. Qube Research & Technologies Ltd increased its stake in DHT by 706.0% in the second quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock valued at $11,650,000 after purchasing an additional 943,990 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in DHT in the fourth quarter valued at $8,927,000. Finally, Acorn Financial Advisory Services Inc. ADV purchased a new position in DHT during the first quarter worth about $13,123,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

DHT Trading Up 1.7%

DHT stock opened at $18.60 on Wednesday. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 9.03 and a beta of -0.11. The company has a quick ratio of 1.62, a current ratio of 1.83 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $17.60 and a 200-day simple moving average of $17.12. DHT Holdings, Inc. has a 52 week low of $10.69 and a 52 week high of $20.55.

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

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were issued a $0.64 dividend. This is a positive change from DHT’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, May 21st. This represents a $2.56 dividend on an annualized basis and a dividend yield of 13.8%. DHT’s dividend payout ratio (DPR) is 124.27%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen raised DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings lowered shares of DHT from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. BTIG Research increased their price objective on shares of DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Finally, Evercore cut shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 target price on the stock. in a research report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.33.

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.