DHT (NYSE:DHT) Stock Price Down 4% - Here's Why

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) shares fell 4% during mid-day trading on Friday . The stock traded as low as $10.61 and last traded at $10.51. 193,412 shares were traded during trading, a decline of 91% from the average session volume of 2,165,887 shares. The stock had previously closed at $10.94.

Wall Street Analyst Weigh In

DHT has been the topic of several research analyst reports. Fearnley Fonds raised shares of DHT to a "strong-buy" rating in a research report on Friday, September 27th. StockNews.com raised DHT from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. BTIG Research began coverage on shares of DHT in a report on Tuesday, October 15th. They issued a "buy" rating and a $16.00 price objective on the stock. Kepler Capital Markets lowered shares of DHT from a "buy" rating to a "hold" rating and set a $9.70 price target on the stock. in a report on Thursday, December 12th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $14.00 price objective on shares of DHT in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.54.

DHT Stock Down 1.2 %

The company has a market cap of $1.74 billion, a price-to-earnings ratio of 10.81 and a beta of -0.38. The business has a fifty day moving average of $9.85 and a two-hundred day moving average of $10.59. The company has a current ratio of 2.41, a quick ratio of 1.97 and a debt-to-equity ratio of 0.35.

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

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were given a $0.22 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.88 annualized dividend and a dividend yield of 8.14%. DHT's dividend payout ratio (DPR) is 88.00%.

Hedge Funds Weigh In On DHT

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Spire Wealth Management purchased a new position in shares of DHT in the fourth quarter worth about $36,000. EMC Capital Management raised its holdings in DHT by 247.2% in the 4th quarter. EMC Capital Management now owns 34,238 shares of the shipping company's stock valued at $318,000 after acquiring an additional 24,377 shares during the last quarter. Blue Trust Inc. lifted its stake in DHT by 56.3% in the 4th quarter. Blue Trust Inc. now owns 23,245 shares of the shipping company's stock worth $216,000 after purchasing an additional 8,374 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in DHT by 41.3% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,666 shares of the shipping company's stock worth $136,000 after purchasing an additional 4,290 shares in the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of DHT during the 4th quarter worth approximately $154,000. Hedge funds and other institutional investors own 58.53% of the company's stock.

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.