DHT (NYSE:DHT) Cut to Hold at Kepler Capital Markets

Kepler Capital Markets downgraded shares of DHT (NYSE:DHT) from a buy rating to a hold rating in a research report released on Thursday, Marketbeat.com reports. They currently have $9.70 target price on the shipping company’s stock.

DHT has been the subject of a number of other reports. Jefferies Financial Group restated a “buy” rating and set a $14.00 price objective on shares of DHT in a research note on Wednesday, November 13th. BTIG Research started coverage on shares of DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price target for the company. Stifel Nicolaus dropped their price objective on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. Finally, StockNews.com upgraded shares of DHT from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.54.

DHT Trading Up 2.1 %

DHT stock opened at $9.12 on Thursday. DHT has a 1 year low of $8.69 and a 1 year high of $12.80. The firm’s 50-day moving average is $10.40 and its 200-day moving average is $10.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.97 and a current ratio of 2.41. The company has a market cap of $1.47 billion, a P/E ratio of 9.12 and a beta of -0.37.

DHT (NYSE:DHT) last issued its earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $92.64 million for the quarter, compared to analysts’ expectations of $87.51 million. DHT had a net margin of 27.72% and a return on equity of 15.58%. DHT’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $0.19 earnings per share. On average, equities analysts expect that DHT will post 1 earnings per share for the current year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 9.65%. The ex-dividend date was Friday, November 22nd. DHT’s dividend payout ratio is currently 88.00%.

Hedge Funds Weigh In On DHT

Hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in DHT by 10.0% during the third quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock valued at $266,849,000 after buying an additional 2,195,916 shares in the last quarter. Wasatch Advisors LP acquired a new stake in DHT in the 3rd quarter valued at about $55,472,000. Acadian Asset Management LLC boosted its position in shares of DHT by 43.8% during the 2nd 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 worth $33,183,000 after purchasing an additional 873,356 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of DHT by 15.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,102,800 shares of the shipping company’s stock worth $23,194,000 after purchasing an additional 284,900 shares in the last quarter. 58.53% of the stock is currently owned by institutional investors and hedge funds.

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.