DHT (NYSE:DHT) Trading Down 3.7% Following Analyst Downgrade

DHT Holdings, Inc. (NYSE:DHT) shares were down 3.7% during trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $13.00 to $11.00. Stifel Nicolaus currently has a hold rating on the stock. DHT traded as low as $10.36 and last traded at $10.47. Approximately 597,248 shares were traded during trading, a decline of 68% from the average daily volume of 1,842,532 shares. The stock had previously closed at $10.87.

Several other brokerages have also issued reports on DHT. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a research report on Friday, September 27th. BTIG Research started coverage on shares of DHT in a research report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price for the company. Finally, StockNews.com lowered shares of DHT from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, DHT has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Institutional Trading of DHT

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its stake 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 valued at $39,184,000 after acquiring an additional 1,032,832 shares during the last quarter. American Century Companies Inc. raised its stake in shares of 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 acquiring an additional 873,356 shares during the last quarter. LSV Asset Management raised its stake in shares of DHT by 28.8% during the second quarter. LSV Asset Management now owns 1,534,614 shares of the shipping company’s stock valued at $17,755,000 after acquiring an additional 343,100 shares during the last quarter. M&G Plc bought a new position in shares of DHT during the first quarter valued at about $16,417,000. Finally, Vanguard Group Inc. raised its stake in shares of DHT by 15.2% during the first quarter. Vanguard Group Inc. now owns 998,097 shares of the shipping company’s stock valued at $11,478,000 after acquiring an additional 132,039 shares during the last quarter. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

DHT Trading Down 4.6 %

The stock has a market capitalization of $1.67 billion, a P/E ratio of 9.88 and a beta of -0.36. The firm’s 50 day moving average price is $11.05 and its 200 day moving average price is $11.38. 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 issued its quarterly earnings data on Monday, August 12th. The shipping company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $103.70 million for the quarter, compared to the consensus estimate of $102.75 million. DHT had a net margin of 27.45% and a return on equity of 15.19%. The business’s revenue was down 8.2% on a year-over-year basis. During the same period last year, the company posted $0.35 earnings per share. As a group, equities research analysts expect that DHT Holdings, Inc. will post 1.14 earnings per share for the current fiscal year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 10.41%. The ex-dividend date of this dividend was Friday, August 23rd. DHT’s payout ratio is currently 102.86%.

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.