DHT (NYSE:DHT) Receives New Coverage from Analysts at BTIG Research

BTIG Research assumed coverage on shares of DHT (NYSE:DHT - Free Report) in a research report released on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $16.00 target price on the shipping company's stock.

A number of other research firms have also recently issued reports on DHT. Fearnley Fonds upgraded shares of DHT to a strong-buy rating in a research note on Friday, September 27th. Stifel Nicolaus lifted their price objective on DHT from $12.00 to $13.00 and gave the stock a hold rating in a research note on Wednesday, July 24th. Finally, StockNews.com downgraded DHT from a hold rating to a sell rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $15.00.

DHT Stock Down 2.7 %

NYSE:DHT traded down $0.31 on Tuesday, hitting $11.03. 1,456,198 shares of the company's stock traded hands, compared to its average volume of 1,871,138. The company has a market cap of $1.78 billion, a PE ratio of 10.50 and a beta of -0.36. DHT has a 1 year low of $9.28 and a 1 year high of $12.80. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $11.04 and a 200-day moving average price of $11.41.

DHT (NYSE:DHT - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The shipping company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.01). DHT had a net margin of 27.45% and a return on equity of 15.19%. The company had revenue of $103.70 million for the quarter, compared to analysts' expectations of $102.75 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The business's revenue for the quarter was down 8.2% on a year-over-year basis. Equities analysts anticipate that DHT will post 1.14 EPS for the current fiscal year.

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.08 annualized dividend and a yield of 9.79%. DHT's dividend payout ratio is 102.86%.

Institutional Investors Weigh In On DHT

Several institutional investors and hedge funds have recently bought and sold shares of DHT. M&G Plc acquired a new stake in shares of DHT during the 1st quarter valued at about $16,417,000. Acadian Asset Management LLC boosted its holdings in DHT by 43.8% during the second quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company's stock valued at $39,184,000 after purchasing an additional 1,032,832 shares in the last quarter. American Century Companies Inc. grew its stake in shares of DHT by 43.8% in the 2nd 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 period. TrueMark Investments LLC acquired a new position in shares of DHT in the 2nd quarter worth approximately $4,371,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of DHT by 194.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 562,743 shares of the shipping company's stock worth $6,511,000 after buying an additional 371,420 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.