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DHT (NYSE:DHT) Stock Price Up 5.4% - Still a Buy?

DHT logo with Transportation background

DHT Holdings, Inc. (NYSE:DHT - Get Free Report)'s share price rose 5.4% during trading on Friday . The company traded as high as $10.88 and last traded at $10.59. Approximately 519,896 shares traded hands during trading, a decline of 65% from the average daily volume of 1,477,855 shares. The stock had previously closed at $10.05.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Fearnley Fonds upgraded DHT to a "strong-buy" rating in a report on Friday, September 27th. Stifel Nicolaus lowered their price target on DHT from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Wednesday, October 23rd. BTIG Research began coverage on shares of DHT in a research note on Tuesday, October 15th. They set a "buy" rating and a $16.00 price objective on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $14.00 target price on shares of DHT in a research note on Wednesday, November 13th. Finally, StockNews.com raised shares of DHT from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. Three 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 company currently has an average rating of "Moderate Buy" and an average target price of $13.54.

View Our Latest Analysis on DHT

DHT Price Performance

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 company's 50-day moving average price is $9.74 and its 200-day moving average price is $10.64. The company has a market cap of $1.73 billion, a P/E ratio of 10.72 and a beta of -0.38.

DHT (NYSE:DHT - Get Free Report) last released its 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. The firm had revenue of $92.64 million during the quarter, compared to analysts' expectations of $87.51 million. DHT had a return on equity of 15.58% and a net margin of 27.72%. The company's revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. As a group, sell-side 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 given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 8.21%. The ex-dividend date of this dividend was Friday, November 22nd. DHT's dividend payout ratio (DPR) is currently 88.00%.

Institutional Trading of DHT

A number of institutional investors have recently made changes to their positions in DHT. Intech Investment Management LLC acquired a new stake in DHT in the 3rd quarter valued at $611,000. Barclays PLC increased its position in shares of DHT by 229.4% during the 3rd quarter. Barclays PLC now owns 188,899 shares of the shipping company's stock worth $2,083,000 after purchasing an additional 131,551 shares during the last quarter. International Assets Investment Management LLC lifted its stake in DHT by 1,144.6% in the third quarter. International Assets Investment Management LLC now owns 678,808 shares of the shipping company's stock valued at $7,487,000 after acquiring an additional 624,266 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in DHT during the third quarter worth about $2,611,000. Finally, Quantbot Technologies LP lifted its holdings in DHT by 107.4% during the 3rd quarter. Quantbot Technologies LP now owns 205,971 shares of the shipping company's stock valued at $2,272,000 after purchasing an additional 106,683 shares during the last quarter. Institutional investors own 58.53% of the company's stock.

DHT Company Profile

(Get Free Report)

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.

Further Reading

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