DHT (NYSE:DHT) Shares Gap Up - Time to Buy?

Shares of DHT Holdings, Inc. (NYSE:DHT - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $9.33, but opened at $9.80. DHT shares last traded at $9.89, with a volume of 712,088 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Fearnley Fonds upgraded shares of DHT to a "strong-buy" rating in a research report on Friday, September 27th. BTIG Research initiated coverage on DHT in a report on Tuesday, October 15th. They issued a "buy" rating and a $16.00 price objective on the stock. StockNews.com raised DHT from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Stifel Nicolaus decreased their price target on DHT from $13.00 to $11.00 and set a "hold" rating on the stock in a research note on Wednesday, October 23rd. Finally, Kepler Capital Markets cut DHT from a "buy" rating to a "hold" rating and set a $9.70 price target for the company. in a report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $13.54.

DHT Price Performance

The stock has a 50 day moving average price of $9.76 and a two-hundred day moving average price of $10.66. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 10.06 and a beta of -0.38.

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

DHT Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 22nd were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.88 annualized dividend and a yield of 8.75%. DHT's dividend payout ratio is presently 88.00%.

Institutional Trading of DHT

Several hedge funds have recently modified their holdings of DHT. Quarry LP raised its holdings in shares of DHT by 2,494.6% in the 2nd quarter. Quarry LP now owns 3,866 shares of the shipping company's stock valued at $45,000 after purchasing an additional 3,717 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in DHT in the third quarter valued at $50,000. Nisa Investment Advisors LLC raised its stake in DHT by 52.2% in the third quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company's stock valued at $76,000 after buying an additional 2,361 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in DHT during the 2nd quarter worth about $80,000. Finally, Soros Fund Management LLC acquired a new position in shares of DHT during the 3rd quarter worth about $114,000. 58.53% of the stock is currently owned by institutional investors and hedge funds.

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.