DHT (NYSE:DHT) Shares Down 3.7% After Analyst Downgrade

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) traded down 3.7% during trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $13.00 to $11.00. Stifel Nicolaus currently has a hold rating on the stock. DHT traded as low as $10.36 and last traded at $10.47. 597,248 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 1,842,532 shares. The stock had previously closed at $10.87.

Several other research firms have also recently issued reports on DHT. StockNews.com cut DHT from a "hold" rating to a "sell" rating in a research note on Monday, September 9th. Fearnley Fonds raised shares of DHT to a "strong-buy" rating in a research note on Friday, September 27th. Finally, BTIG Research began coverage on DHT in a research note on Tuesday, October 15th. They set a "buy" rating and a $16.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, DHT currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.50.

Institutional Investors Weigh In On DHT

Several hedge funds have recently bought and sold shares of DHT. Quarry LP raised its position in DHT by 2,494.6% during the second quarter. Quarry LP now owns 3,866 shares of the shipping company's stock valued at $45,000 after acquiring an additional 3,717 shares in the last quarter. Headlands Technologies LLC bought a new stake in DHT in the first quarter worth $51,000. Summit Securities Group LLC acquired a new position in DHT during the second quarter worth $78,000. Point72 Hong Kong Ltd bought a new position in DHT during the second quarter valued at about $80,000. Finally, Blue Trust Inc. raised its holdings in DHT by 41,626.3% during the second quarter. Blue Trust Inc. now owns 7,928 shares of the shipping company's stock valued at $91,000 after buying an additional 7,909 shares in the last quarter. 58.53% of the stock is owned by hedge funds and other institutional investors.

DHT Stock Down 4.6 %

The company has a market cap of $1.67 billion, a price-to-earnings ratio of 9.91 and a beta of -0.36. The business has a 50-day simple moving average of $11.06 and a two-hundred day simple moving average of $11.39. The company has a quick ratio of 2.33, a current ratio of 2.87 and a debt-to-equity ratio of 0.36.

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

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.08 annualized dividend and a dividend yield of 10.41%. DHT's dividend payout ratio is presently 102.86%.

About DHT

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.