39,783 Shares in DHT Holdings, Inc. (NYSE:DHT) Purchased by Truist Financial Corp

Truist Financial Corp acquired a new position in DHT Holdings, Inc. (NYSE:DHT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 39,783 shares of the shipping company’s stock, valued at approximately $460,000.

Several other hedge funds have also added to or reduced their stakes in DHT. M&G Plc bought a new stake in DHT during the 1st quarter valued at $16,417,000. Acadian Asset Management LLC boosted its position 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 buying an additional 1,032,832 shares during the period. American Century Companies Inc. boosted its position in DHT by 43.8% during the second quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock valued at $33,183,000 after buying an additional 873,356 shares during the period. TrueMark Investments LLC purchased a new stake in shares of DHT during the second quarter worth about $4,371,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of DHT by 194.1% during the second quarter. Cubist Systematic Strategies LLC now owns 562,743 shares of the shipping company’s stock worth $6,511,000 after purchasing an additional 371,420 shares during the period. Institutional investors own 58.53% of the company’s stock.

DHT Stock Up 1.6 %

DHT opened at $11.21 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.33 and a current ratio of 2.87. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 10.68 and a beta of -0.36. The firm’s fifty day moving average is $11.03 and its 200 day moving average is $11.40. DHT Holdings, Inc. has a fifty-two week low of $9.28 and a fifty-two week high of $12.80.

DHT (NYSE:DHT) last posted 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 business had revenue of $103.70 million during the quarter, compared to the consensus estimate of $102.75 million. During the same quarter last year, the firm earned $0.35 earnings per share. The business’s quarterly revenue was down 8.2% on a year-over-year basis. On average, sell-side analysts forecast that DHT Holdings, Inc. will post 1.14 earnings per share 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 dividend on an annualized basis and a dividend yield of 9.63%. DHT’s dividend payout ratio is presently 102.86%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on DHT shares. BTIG Research started coverage on shares of DHT in a research note on Tuesday. They issued a “buy” rating and a $16.00 price target for the company. Stifel Nicolaus raised their price target on shares of DHT from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. Finally, StockNews.com cut shares of DHT from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

DHT 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.