DHT (NYSE:DHT) Stock Price Down 4% – Should You Sell?

DHT Holdings, Inc. (NYSE:DHT)’s share price traded down 4% during mid-day trading on Friday . The stock traded as low as $10.61 and last traded at $10.51. 193,412 shares were traded during mid-day trading, a decline of 91% from the average session volume of 2,165,887 shares. The stock had previously closed at $10.94.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BTIG Research initiated coverage on shares of DHT in a research note on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price on the stock. StockNews.com raised DHT from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Jefferies Financial Group reiterated a “buy” rating and set a $14.00 target price on shares of DHT in a report on Wednesday, November 13th. Stifel Nicolaus reduced their price target on DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Finally, Kepler Capital Markets lowered shares of DHT from a “buy” rating to a “hold” rating and set a $9.70 price objective on the stock. in a research note on Thursday, December 12th. Three equities research 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $13.54.

DHT Stock Down 1.2 %

The company has a market capitalization of $1.74 billion, a PE ratio of 10.81 and a beta of -0.38. 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 firm has a fifty day simple moving average of $9.85 and a 200-day simple moving average of $10.59.

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

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 22nd were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 8.14%. The ex-dividend date of this dividend was Friday, November 22nd. DHT’s dividend payout ratio is currently 88.00%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Spire Wealth Management bought a new stake in shares of DHT in the 4th quarter valued at approximately $36,000. EMC Capital Management increased its stake in DHT by 247.2% during the fourth quarter. EMC Capital Management now owns 34,238 shares of the shipping company’s stock valued at $318,000 after purchasing an additional 24,377 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of DHT by 56.3% during the fourth quarter. Blue Trust Inc. now owns 23,245 shares of the shipping company’s stock worth $216,000 after purchasing an additional 8,374 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of DHT by 41.3% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,666 shares of the shipping company’s stock worth $136,000 after buying an additional 4,290 shares during the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of DHT in the 4th quarter valued at about $154,000. Institutional investors own 58.53% of the company’s stock.

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.