BTIG Research Initiates Coverage on DHT (NYSE:DHT)

BTIG Research started coverage on shares of DHT (NYSE:DHT) in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $16.00 target price on the shipping company’s stock.

Other research analysts have also recently issued research reports about the stock. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. StockNews.com cut shares of DHT from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Finally, Stifel Nicolaus raised their price target on DHT from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. One 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’s stock. Based on data from MarketBeat.com, DHT currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

DHT Trading Up 0.5 %

Shares of DHT stock opened at $11.39 on Tuesday. The company’s 50-day moving average price is $11.06 and its 200-day moving average price is $11.40. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 10.85 and a beta of -0.36. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36. DHT has a 12-month low of $9.28 and a 12-month high of $12.80.

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). The company had revenue of $103.70 million during the quarter, compared to analysts’ expectations of $102.75 million. DHT had a net margin of 27.45% and a return on equity of 15.19%. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share. On average, equities analysts expect that DHT 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 $0.27 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.08 annualized dividend and a yield of 9.48%. DHT’s dividend payout ratio (DPR) is presently 102.86%.

Hedge Funds Weigh In On DHT

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP raised its holdings in DHT by 2,494.6% in the 2nd quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after purchasing an additional 3,717 shares during the period. Headlands Technologies LLC bought a new position in DHT in the 1st quarter worth $51,000. Summit Securities Group LLC bought a new position in DHT in the 2nd quarter worth $78,000. Point72 Hong Kong Ltd bought a new position in DHT in the 2nd quarter worth $80,000. Finally, Blue Trust Inc. increased its stake in DHT by 41,626.3% in the 2nd quarter. Blue Trust Inc. now owns 7,928 shares of the shipping company’s stock worth $91,000 after buying an additional 7,909 shares in the last quarter. 58.53% of the stock is owned by 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.