DHT (NYSE:DHT) Shares Gap Down - Should You Sell?

DHT Holdings, Inc. (NYSE:DHT - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $11.09, but opened at $10.85. DHT shares last traded at $10.96, with a volume of 293,527 shares.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DHT. BTIG Research started coverage on DHT in a report on Tuesday, October 15th. They issued a "buy" rating and a $16.00 price objective on the stock. Jefferies Financial Group reissued a "buy" rating and issued a $14.00 target price on shares of DHT in a report on Wednesday, November 13th. Stifel Nicolaus decreased their target price on shares of DHT from $13.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, October 23rd. Fearnley Fonds upgraded shares of DHT to a "strong-buy" rating in a report on Friday, September 27th. Finally, Kepler Capital Markets downgraded shares of DHT from a "buy" rating to a "hold" rating and set a $9.70 price objective on the stock. in a report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, DHT presently has a consensus rating of "Moderate Buy" and an average target price of $13.54.

DHT Trading Up 0.9 %

The business's 50-day simple moving average is $9.77 and its 200-day simple moving average is $10.61. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 11.19 and a beta of -0.37. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97.

DHT (NYSE:DHT - Get Free Report) last posted its earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.02. DHT had a return on equity of 15.58% and a net margin of 27.72%. The firm had revenue of $92.64 million for the quarter, compared to analyst estimates of $87.51 million. During the same quarter in the prior year, the company earned $0.19 EPS. DHT's revenue was up 4.0% on a year-over-year basis. Research analysts predict that DHT Holdings, Inc. will post 1 earnings per share for the current fiscal year.

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.88 annualized dividend and a dividend yield of 7.86%. DHT's dividend payout ratio is currently 88.00%.

Hedge Funds Weigh In On DHT

A number of institutional investors have recently modified their holdings of the company. FMR LLC grew its stake in DHT by 10.0% in the 3rd quarter. FMR LLC now owns 24,193,014 shares of the shipping company's stock worth $266,849,000 after acquiring an additional 2,195,916 shares during the period. Wasatch Advisors LP purchased a new stake in shares of DHT in the third quarter valued at $55,472,000. American Century Companies Inc. increased its stake in DHT by 43.8% in the second quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company's stock valued at $33,183,000 after purchasing an additional 873,356 shares during the last quarter. Two Sigma Advisers LP lifted its position in DHT by 15.7% during the third quarter. Two Sigma Advisers LP now owns 2,102,800 shares of the shipping company's stock worth $23,194,000 after buying an additional 284,900 shares during the period. Finally, M&G PLC boosted its stake in DHT by 1.4% in the 3rd quarter. M&G PLC now owns 1,204,231 shares of the shipping company's stock worth $13,247,000 after buying an additional 16,736 shares during the last quarter. Institutional investors and hedge funds own 58.53% of the company's stock.

About DHT

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.