Summit Financial LLC Makes New Investment in DHT Holdings, Inc. (NYSE:DHT)

Summit Financial LLC acquired a new position in DHT Holdings, Inc. (NYSE:DHT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 118,327 shares of the shipping company's stock, valued at approximately $1,099,000. Summit Financial LLC owned 0.07% of DHT as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DHT. Spire Wealth Management acquired a new stake in DHT during the 4th quarter worth about $36,000. Sunbelt Securities Inc. purchased a new stake in shares of DHT during the 3rd quarter worth about $50,000. New Age Alpha Advisors LLC bought a new stake in DHT in the fourth quarter worth approximately $71,000. Soros Fund Management LLC acquired a new position in DHT during the third quarter worth $114,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of DHT in the 4th quarter valued at approximately $108,000. Institutional investors own 58.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DHT shares. Kepler Capital Markets lowered DHT from a "buy" rating to a "hold" rating and set a $9.70 price objective on the stock. in a research note on Thursday, December 12th. Jefferies Financial Group raised their target price on DHT from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, DHT presently has an average rating of "Moderate Buy" and a consensus target price of $12.68.

DHT Stock Down 5.6 %

Shares of DHT stock traded down $0.56 during trading on Friday, reaching $9.44. The company's stock had a trading volume of 4,530,466 shares, compared to its average volume of 1,830,874. The company has a quick ratio of 1.50, a current ratio of 1.84 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average price of $10.81 and a 200-day moving average price of $10.51. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 8.43 and a beta of -0.06. DHT Holdings, Inc. has a one year low of $8.67 and a one year high of $12.80.

DHT (NYSE:DHT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.12. DHT had a return on equity of 17.42% and a net margin of 31.72%. Analysts anticipate that DHT Holdings, Inc. will post 0.94 earnings per share for the current year.

DHT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 7.20%. The ex-dividend date of this dividend was Tuesday, February 18th. DHT's payout ratio is presently 60.71%.

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.