Navellier & Associates Inc. Lowers Stock Holdings in DHT Holdings, Inc. (NYSE:DHT)

Navellier & Associates Inc. decreased its position in shares of DHT Holdings, Inc. (NYSE:DHT) by 55.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,360 shares of the shipping company’s stock after selling 14,175 shares during the quarter. Navellier & Associates Inc.’s holdings in DHT were worth $106,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of DHT. Wasatch Advisors LP purchased a new stake in DHT in the 3rd quarter worth $55,472,000. FMR LLC lifted its stake in DHT by 10.0% in the 3rd quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock worth $266,849,000 after purchasing an additional 2,195,916 shares in the last quarter. International Assets Investment Management LLC lifted its stake in DHT by 1,144.6% in the 3rd quarter. International Assets Investment Management LLC now owns 678,808 shares of the shipping company’s stock worth $7,487,000 after purchasing an additional 624,266 shares in the last quarter. Raymond James & Associates purchased a new stake in DHT in the 3rd quarter worth $5,004,000. Finally, Empowered Funds LLC purchased a new stake in DHT in the 4th quarter worth $2,835,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

Wall Street Analyst Weigh In

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

DHT Stock Performance

DHT stock opened at $10.84 on Monday. The company’s 50-day moving average price is $10.45 and its 200-day moving average price is $10.58. DHT Holdings, Inc. has a twelve month low of $8.67 and a twelve month high of $12.80. The company has a quick ratio of 1.50, a current ratio of 1.84 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.75 billion, a PE ratio of 9.67 and a beta of -0.39.

DHT (NYSE:DHT) last posted its earnings results on Wednesday, February 5th. The shipping company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. DHT had a net margin of 31.72% and a return on equity of 17.42%. On average, equities research analysts forecast that DHT Holdings, Inc. will post 0.94 EPS for the current fiscal year.

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.68 annualized dividend and a yield of 6.28%. DHT’s payout ratio is 60.71%.

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.