New York State Common Retirement Fund Reduces Position in DHT Holdings, Inc. (NYSE:DHT)

New York State Common Retirement Fund lowered its stake in DHT Holdings, Inc. (NYSE:DHT) by 45.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,043 shares of the shipping company’s stock after selling 35,416 shares during the period. New York State Common Retirement Fund’s holdings in DHT were worth $400,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC purchased a new position in shares of DHT in the 3rd quarter valued at about $611,000. Barclays PLC increased its position in shares of DHT by 229.4% in the third quarter. Barclays PLC now owns 188,899 shares of the shipping company’s stock valued at $2,083,000 after buying an additional 131,551 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of DHT by 107.4% during the 3rd quarter. Quantbot Technologies LP now owns 205,971 shares of the shipping company’s stock worth $2,272,000 after buying an additional 106,683 shares during the period. Kingsview Wealth Management LLC purchased a new position in shares of DHT during the 3rd quarter valued at approximately $2,611,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in DHT in the 4th quarter valued at $1,387,000. 58.53% of the stock is currently owned by institutional investors and hedge funds.

DHT Stock Up 1.2 %

Shares of NYSE:DHT opened at $10.53 on Wednesday. The firm has a market capitalization of $1.70 billion, a PE ratio of 9.40 and a beta of -0.39. DHT Holdings, Inc. has a 1 year low of $8.67 and a 1 year high of $12.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.84 and a quick ratio of 1.50. The firm’s 50-day moving average is $10.62 and its two-hundred day moving average is $10.55.

DHT (NYSE:DHT) last issued its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.22 by $0.12. DHT had a net margin of 31.72% and a return on equity of 17.42%. Analysts predict that DHT Holdings, Inc. will post 0.94 EPS for the current year.

DHT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.68 annualized dividend and a dividend yield of 6.46%. DHT’s dividend payout ratio (DPR) is 60.71%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Jefferies Financial Group boosted their price target on DHT from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, Kepler Capital Markets cut shares of DHT from a “buy” rating to a “hold” rating and set a $9.70 target price on the stock. in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, DHT presently has a consensus rating of “Moderate Buy” and an average target price of $12.68.

DHT Company 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.