Analysts Set DHT Holdings, Inc. (NYSE:DHT) Target Price at $19.33

Shares of DHT Holdings, Inc. (NYSE:DHT) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $19.3333.

A number of research firms have commented on DHT. Evercore lowered DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective on the stock. in a research note on Wednesday, April 22nd. Weiss Ratings upgraded DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, June 23rd. Wall Street Zen raised DHT from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, BTIG Research lifted their price target on DHT from $18.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd.

DHT Stock Performance

NYSE DHT opened at $17.43 on Monday. DHT has a 1-year low of $10.61 and a 1-year high of $20.55. The company has a 50 day moving average of $17.56 and a 200-day moving average of $16.82. The company has a current ratio of 1.83, a quick ratio of 1.62 and a debt-to-equity ratio of 0.33. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 8.46 and a beta of -0.11.

DHT (NYSE:DHT) last announced its earnings results on Tuesday, May 5th. The shipping company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. DHT had a return on equity of 27.54% and a net margin of 58.54%.The business had revenue of $157.20 million for the quarter, compared to the consensus estimate of $152.15 million. During the same period in the previous year, the business earned $0.27 EPS. DHT’s revenue was up 134.9% compared to the same quarter last year.

DHT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were given a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 14.7%. The ex-dividend date was Thursday, May 21st. This is a boost from DHT’s previous quarterly dividend of $0.41. DHT’s dividend payout ratio is 124.27%.

Hedge Funds Weigh In On DHT

Institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its stake in shares of DHT by 74.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company’s stock valued at $78,849,000 after purchasing an additional 1,836,892 shares during the last quarter. Victory Capital Management Inc. raised its position in DHT by 1.5% in the 4th quarter. Victory Capital Management Inc. now owns 3,008,679 shares of the shipping company’s stock worth $36,736,000 after purchasing an additional 44,986 shares during the last quarter. Wasatch Advisors LP lifted its holdings in DHT by 11.9% during the 3rd quarter. Wasatch Advisors LP now owns 2,329,182 shares of the shipping company’s stock worth $27,834,000 after buying an additional 248,620 shares in the last quarter. State Street Corp lifted its holdings in DHT by 0.8% during the 4th quarter. State Street Corp now owns 2,269,460 shares of the shipping company’s stock worth $27,710,000 after buying an additional 17,221 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in DHT by 60.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,732,003 shares of the shipping company’s stock valued at $20,697,000 after buying an additional 654,299 shares during the last quarter. 58.53% of the stock is owned by institutional investors.

About DHT

DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.