DHT (NYSE:DHT) Shares Gap Down to $11.31

Shares of DHT Holdings, Inc. (NYSE:DHT) gapped down prior to trading on Friday . The stock had previously closed at $11.31, but opened at $11.02. DHT shares last traded at $10.80, with a volume of 521,386 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lifted their price target on shares of DHT from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. StockNews.com lowered shares of DHT from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.67.

DHT Price Performance

The business’s 50-day simple moving average is $11.05 and its two-hundred day simple moving average is $11.38. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 10.77 and a beta of -0.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.87 and a quick ratio of 2.33.

DHT (NYSE:DHT) last announced its earnings results on Monday, August 12th. The shipping company reported $0.27 earnings per share 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 firm had revenue of $103.70 million for the quarter, compared to the consensus estimate of $102.75 million. During the same period in the prior year, the business earned $0.35 EPS. DHT’s quarterly revenue was down 8.2% on a year-over-year basis. Research analysts expect that DHT Holdings, Inc. will post 1.14 earnings per share for the current 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 issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 9.85%. The ex-dividend date of this dividend was Friday, August 23rd. DHT’s dividend payout ratio (DPR) is presently 102.86%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Greenlight Capital Inc. raised its position in shares of DHT by 86.7% in the fourth quarter. Greenlight Capital Inc. now owns 3,779,880 shares of the shipping company’s stock valued at $37,081,000 after purchasing an additional 1,755,060 shares during the period. M&G Plc purchased a new stake in DHT during the 1st quarter valued at $16,417,000. Acadian Asset Management LLC boosted its holdings in shares of DHT by 43.8% during the second quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock worth $39,184,000 after purchasing an additional 1,032,832 shares during the period. American Century Companies Inc. grew its position 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 worth $33,183,000 after buying an additional 873,356 shares during the last quarter. Finally, TrueMark Investments LLC bought a new stake in DHT in the second quarter valued at $4,371,000. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

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.