DHT (NYSE:DHT) Shares Up 2.5% – Should You Buy?

DHT Holdings, Inc. (NYSE:DHT) shares shot up 2.5% during trading on Friday . The company traded as high as $10.74 and last traded at $10.80. 147,923 shares were traded during trading, a decline of 92% from the average session volume of 1,742,883 shares. The stock had previously closed at $10.53.

Wall Street Analysts Forecast Growth

DHT has been the topic of several research analyst reports. Jefferies Financial Group boosted their price target on DHT from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Kepler Capital Markets lowered 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 investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.68.

DHT Price Performance

The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 9.57 and a beta of -0.38. The firm has a 50-day simple moving average of $10.87 and a two-hundred day simple moving average of $10.54. The company has a current ratio of 1.84, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

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

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date of this dividend was Tuesday, February 18th. DHT’s dividend payout ratio (DPR) is presently 60.71%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in shares of DHT by 84.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,771 shares of the shipping company’s stock valued at $26,000 after acquiring an additional 1,265 shares during the period. Spire Wealth Management acquired a new stake in DHT in the fourth quarter valued at approximately $36,000. Banque Transatlantique SA acquired a new position in shares of DHT during the 4th quarter worth approximately $37,000. Sterling Capital Management LLC raised its stake in shares of DHT by 822.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,325 shares of the shipping company’s stock worth $40,000 after buying an additional 3,856 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in shares of DHT during the 3rd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

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.