DHT (NYSE:DHT) Hits New 1-Year High – Should You Buy?

DHT Holdings, Inc. (NYSE:DHT) reached a new 52-week high during trading on Monday . The company traded as high as $13.48 and last traded at $13.4390, with a volume of 1915 shares traded. The stock had previously closed at $13.34.

Analysts Set New Price Targets

DHT has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a research report on Wednesday, October 8th. Jefferies Financial Group reissued a “buy” rating and set a $16.00 price objective on shares of DHT in a report on Thursday, October 30th. Zacks Research raised shares of DHT to a “hold” rating in a report on Monday, August 11th. BTIG Research reaffirmed a “buy” rating and set a $16.00 price target on shares of DHT in a research note on Thursday, October 30th. Finally, Evercore ISI lifted their price objective on DHT from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.18.

DHT Price Performance

The company has a 50 day moving average of $12.31 and a 200 day moving average of $11.65. The company has a current ratio of 2.33, a quick ratio of 1.96 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 10.82 and a beta of -0.01.

DHT (NYSE:DHT) last announced its quarterly earnings results on Wednesday, October 29th. The shipping company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.11. DHT had a return on equity of 17.18% and a net margin of 41.17%.The company had revenue of $79.10 million during the quarter, compared to the consensus estimate of $78.83 million. During the same period in the prior year, the company earned $0.22 earnings per share. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. Equities research analysts predict that DHT Holdings, Inc. will post 0.94 EPS for the current fiscal year.

DHT Cuts Dividend

The business also recently declared 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 5.4%. The ex-dividend date is Wednesday, November 12th. DHT’s dividend payout ratio is 58.06%.

Institutional Investors Weigh In On DHT

Several institutional investors have recently added to or reduced their stakes in DHT. Encompass Capital Advisors LLC bought a new position in DHT during the 1st quarter worth about $19,950,000. Qube Research & Technologies Ltd boosted its stake in shares of DHT by 706.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock worth $11,650,000 after buying an additional 943,990 shares during the last quarter. Corigliano Investment Advisers LLC bought a new position in shares of DHT in the 1st quarter valued at about $5,788,000. American Century Companies Inc. increased its position in shares of DHT by 11.2% in the second quarter. American Century Companies Inc. now owns 4,899,375 shares of the shipping company’s stock valued at $52,962,000 after acquiring an additional 491,717 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in DHT by 1,376.6% during the second quarter. Lazard Asset Management LLC now owns 388,043 shares of the shipping company’s stock worth $4,194,000 after acquiring an additional 361,764 shares in the last quarter. 58.53% of the stock is owned by institutional investors.

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.