DHT (NYSE:DHT) Trading Up 5.3% - Here's What Happened

Shares of DHT Holdings, Inc. (NYSE:DHT - Get Free Report) were up 5.3% during trading on Monday . The stock traded as high as $9.96 and last traded at $9.95. Approximately 433,375 shares traded hands during trading, a decline of 76% from the average daily volume of 1,826,223 shares. The stock had previously closed at $9.45.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upped their price target on shares of DHT from $13.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, DHT presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.68.

DHT Trading Up 7.9 %

The business's 50-day moving average is $10.63 and its two-hundred day moving average is $10.47. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.84 and a quick ratio of 1.50. The firm has a market cap of $1.71 billion, a P/E ratio of 9.48 and a beta of -0.06.

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

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date of this dividend was Tuesday, February 18th. DHT's dividend payout ratio is currently 60.71%.

Institutional Trading of DHT

Several institutional investors and hedge funds have recently bought and sold shares of the business. GoalVest Advisory LLC raised its stake in DHT by 27.2% in the 1st quarter. GoalVest Advisory LLC now owns 112,589 shares of the shipping company's stock valued at $1,182,000 after acquiring an additional 24,084 shares during the period. GAMMA Investing LLC lifted its position in DHT by 1,805.5% during the first quarter. GAMMA Investing LLC now owns 25,095 shares of the shipping company's stock worth $263,000 after acquiring an additional 23,778 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of DHT in the fourth quarter valued at approximately $1,498,000. Vident Advisory LLC grew its position in shares of DHT by 3.2% in the fourth quarter. Vident Advisory LLC now owns 53,228 shares of the shipping company's stock valued at $495,000 after purchasing an additional 1,665 shares during the last quarter. Finally, Wexford Capital LP increased its stake in shares of DHT by 11.6% during the fourth quarter. Wexford Capital LP now owns 48,000 shares of the shipping company's stock worth $446,000 after purchasing an additional 5,000 shares during the period. 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.