Summit Financial LLC Makes New $1.10 Million Investment in DHT Holdings, Inc. (NYSE:DHT)

Summit Financial LLC purchased a new position in DHT Holdings, Inc. (NYSE:DHT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 118,327 shares of the shipping company’s stock, valued at approximately $1,099,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Barclays PLC raised its position in DHT by 229.4% in the 3rd quarter. Barclays PLC now owns 188,899 shares of the shipping company’s stock worth $2,083,000 after buying an additional 131,551 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of DHT during the fourth quarter valued at approximately $1,387,000. Victory Capital Management Inc. boosted its holdings in DHT by 1,367.3% in the fourth quarter. Victory Capital Management Inc. now owns 503,869 shares of the shipping company’s stock worth $4,681,000 after purchasing an additional 469,528 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in DHT in the 3rd quarter worth approximately $134,000. Finally, Principal Financial Group Inc. raised its stake in DHT by 9.5% during the 4th quarter. Principal Financial Group Inc. now owns 107,906 shares of the shipping company’s stock valued at $1,002,000 after buying an additional 9,341 shares during the last quarter. 58.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DHT. Kepler Capital Markets downgraded 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. 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. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.68.

DHT Trading Up 0.6 %

NYSE:DHT opened at $10.57 on Wednesday. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 9.43 and a beta of -0.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.84 and a quick ratio of 1.50. The business has a fifty day moving average price of $10.87 and a 200-day moving average price of $10.54. DHT Holdings, Inc. has a one year low of $8.67 and a one year high of $12.80.

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

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 6.44%. The ex-dividend date was Tuesday, February 18th. DHT’s dividend payout ratio is currently 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.