JPMorgan Chase & Co. Lowers Stake in DHT Holdings, Inc. (NYSE:DHT)

JPMorgan Chase & Co. lessened its holdings in DHT Holdings, Inc. (NYSE:DHT) by 73.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 331,048 shares of the shipping company’s stock after selling 919,624 shares during the period. JPMorgan Chase & Co. owned about 0.21% of DHT worth $3,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D increased its position in shares of DHT by 8.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 61,280 shares of the shipping company’s stock valued at $709,000 after buying an additional 4,861 shares in the last quarter. XTX Topco Ltd acquired a new stake in DHT in the 2nd quarter valued at $124,000. MQS Management LLC increased its holdings in DHT by 7.3% in the 2nd quarter. MQS Management LLC now owns 24,423 shares of the shipping company’s stock worth $283,000 after acquiring an additional 1,662 shares in the last quarter. Sei Investments Co. raised its position in DHT by 95.5% during the second quarter. Sei Investments Co. now owns 161,779 shares of the shipping company’s stock worth $1,872,000 after acquiring an additional 79,014 shares during the period. Finally, Beck Capital Management LLC purchased a new position in DHT during the second quarter valued at $1,081,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DHT. BTIG Research initiated coverage on shares of DHT in a research note on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price for the company. Stifel Nicolaus cut their price objective on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Fearnley Fonds upgraded DHT to a “strong-buy” rating in a research report on Friday, September 27th. Kepler Capital Markets cut DHT from a “buy” rating to a “hold” rating and set a $9.70 price target for the company. in a research report on Thursday, December 12th. Finally, StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.54.

DHT Stock Performance

NYSE DHT opened at $10.78 on Friday. 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 stock’s fifty day moving average is $9.83 and its two-hundred day moving average is $10.60. The firm has a market capitalization of $1.74 billion, a P/E ratio of 10.78 and a beta of -0.38. DHT Holdings, Inc. has a fifty-two week low of $8.67 and a fifty-two week high of $12.80.

DHT (NYSE:DHT) last announced its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. DHT had a net margin of 27.72% and a return on equity of 15.58%. The firm had revenue of $92.64 million for the quarter, compared to analysts’ expectations of $87.51 million. During the same quarter in the previous year, the company posted $0.19 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. On average, research analysts anticipate that DHT Holdings, Inc. will post 1 earnings per share for the current year.

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 22nd were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.88 dividend on an annualized basis and a yield of 8.16%. DHT’s payout ratio is currently 88.00%.

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.