Pekin Hardy Strauss Inc. Has $513,000 Stake in DHT Holdings, Inc. $DHT

Pekin Hardy Strauss Inc. reduced its stake in shares of DHT Holdings, Inc. (NYSE:DHT) by 11.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,500 shares of the shipping company’s stock after selling 6,000 shares during the period. Pekin Hardy Strauss Inc.’s holdings in DHT were worth $513,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of DHT by 81.5% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company’s stock valued at $25,000 after buying an additional 1,073 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in DHT in the first quarter valued at approximately $112,000. Principal Financial Group Inc. increased its position in DHT by 9.5% during the 1st quarter. Principal Financial Group Inc. now owns 118,131 shares of the shipping company’s stock valued at $1,240,000 after purchasing an additional 10,225 shares during the period. Nisa Investment Advisors LLC increased its position in DHT by 921.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 23,736 shares of the shipping company’s stock valued at $249,000 after purchasing an additional 21,412 shares during the period. Finally, Alps Advisors Inc. bought a new position in DHT during the 1st quarter worth approximately $354,000. Institutional investors own 58.53% of the company’s stock.

Analyst Ratings Changes

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

DHT Stock Up 0.9%

DHT stock opened at $13.35 on Friday. The company has a market capitalization of $2.14 billion, a PE ratio of 10.77 and a beta of -0.01. DHT Holdings, Inc. has a 12-month low of $8.67 and a 12-month high of $13.47. The firm’s fifty day moving average is $12.31 and its 200 day moving average is $11.63. The company has a quick ratio of 1.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.23.

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 business had revenue of $79.10 million for the quarter, compared to analyst estimates of $78.83 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. The company’s quarterly revenue was down 14.6% on a year-over-year basis. As a group, sell-side analysts predict that DHT Holdings, Inc. will post 0.94 EPS for the current fiscal year.

DHT Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $0.72 annualized dividend and a dividend yield of 5.4%. DHT’s dividend payout ratio is presently 58.06%.

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.