DHT (NYSE:DHT) Now Covered by Analysts at BTIG Research

BTIG Research initiated coverage on shares of DHT (NYSE:DHT) in a research note published on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $16.00 target price on the shipping company’s stock.

A number of other equities research analysts also recently weighed in on DHT. Stifel Nicolaus boosted their target price on DHT from $12.00 to $13.00 and gave the stock a hold rating in a research report on Wednesday, July 24th. StockNews.com lowered DHT from a hold rating to a sell rating in a research report on Monday, September 9th. Finally, Fearnley Fonds raised shares of DHT to a strong-buy rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $15.00.

DHT Price Performance

DHT opened at $11.03 on Tuesday. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 10.50 and a beta of -0.36. The stock has a fifty day moving average price of $11.04 and a 200 day moving average price of $11.41. DHT has a 1 year low of $9.28 and a 1 year high of $12.80. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36.

DHT (NYSE:DHT) last announced its earnings results on Monday, August 12th. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $103.70 million for the quarter, compared to the consensus estimate of $102.75 million. DHT had a return on equity of 15.19% and a net margin of 27.45%. The company’s revenue was down 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.35 EPS. Analysts forecast that DHT will post 1.14 EPS for the current fiscal year.

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 9.79%. The ex-dividend date of this dividend was Friday, August 23rd. DHT’s payout ratio is presently 102.86%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of DHT by 8.7% in the first quarter. Russell Investments Group Ltd. now owns 619,634 shares of the shipping company’s stock valued at $7,126,000 after buying an additional 49,657 shares during the period. Boston Partners increased its holdings in DHT by 74.6% during the 1st quarter. Boston Partners now owns 163,512 shares of the shipping company’s stock valued at $1,880,000 after purchasing an additional 69,838 shares during the period. SG Americas Securities LLC bought a new position in DHT in the 1st quarter worth $1,602,000. M&G Plc purchased a new position in shares of DHT in the 1st quarter valued at approximately $16,417,000. Finally, Vanguard Group Inc. boosted its stake in DHT by 15.2% during the first quarter. Vanguard Group Inc. now owns 998,097 shares of the shipping company’s stock worth $11,478,000 after acquiring an additional 132,039 shares in the last quarter. 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.