DHT (NYSE:DHT) Receives Buy Rating from BTIG Research

BTIG Research restated their buy rating on shares of DHT (NYSE:DHT) in a research report released on Thursday,Benzinga reports. BTIG Research currently has a $16.00 price target on the shipping company’s stock.

Several other equities analysts also recently weighed in on the stock. Evercore ISI lifted their price target on shares of DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group restated a “buy” rating and issued a $16.00 price objective on shares of DHT in a research report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of DHT in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of DHT to a “hold” rating in a report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.18.

DHT Price Performance

Shares of NYSE:DHT opened at $13.14 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.33 and a quick ratio of 1.96. DHT has a 1-year low of $8.67 and a 1-year high of $13.36. The company has a market capitalization of $2.11 billion, a P/E ratio of 10.60 and a beta of 0.01. The firm’s 50 day simple moving average is $12.12 and its two-hundred day simple moving average is $11.50.

DHT (NYSE:DHT) last issued its quarterly earnings results on Wednesday, October 29th. The shipping company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.11. DHT had a net margin of 41.17% and a return on equity of 17.18%. The business had revenue of $79.10 million for the quarter, compared to the consensus estimate of $78.83 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. Research analysts expect that DHT will post 0.94 EPS for the current fiscal year.

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, November 12th. DHT’s payout ratio is 81.36%.

Institutional Investors Weigh In On DHT

A number of hedge funds have recently bought and sold shares of the business. Hohimer Wealth Management LLC raised its stake in DHT by 5.7% during the first quarter. Hohimer Wealth Management LLC now owns 17,951 shares of the shipping company’s stock valued at $188,000 after purchasing an additional 961 shares in the last quarter. Martingale Asset Management L P raised its stake in DHT by 0.6% during the first quarter. Martingale Asset Management L P now owns 165,461 shares of the shipping company’s stock valued at $1,737,000 after purchasing an additional 970 shares in the last quarter. GAMMA Investing LLC raised its stake in DHT by 81.5% during the first quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 1,073 shares in the last quarter. First Trust Advisors LP raised its stake in DHT by 0.6% during the second quarter. First Trust Advisors LP now owns 177,393 shares of the shipping company’s stock valued at $1,918,000 after purchasing an additional 1,114 shares in the last quarter. Finally, Earned Wealth Advisors LLC increased its stake in DHT by 11.3% during the first quarter. Earned Wealth Advisors LLC now owns 11,129 shares of the shipping company’s stock worth $117,000 after acquiring an additional 1,129 shares during the last quarter. 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.