DHT (NYSE:DHT) Stock Price Down 5.4% – Here’s Why

DHT Holdings, Inc. (NYSE:DHT)’s share price was down 5.4% during trading on Thursday . The stock traded as low as $16.90 and last traded at $16.7630. 412,582 shares were traded during trading, a decline of 89% from the average session volume of 3,898,071 shares. The stock had previously closed at $17.72.

Analyst Ratings Changes

DHT has been the topic of a number of analyst reports. Wall Street Zen upgraded DHT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Evercore cut DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective for the company. in a report on Wednesday, April 22nd. BTIG Research boosted their target price on shares of DHT from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings raised shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

DHT Trading Up 4.8%

The company’s fifty day moving average price is $17.67 and its two-hundred day moving average price is $16.59. The company has a quick ratio of 1.62, a current ratio of 1.83 and a debt-to-equity ratio of 0.33. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 8.62 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 firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.64 per share. The ex-dividend date was Thursday, May 21st. This is a boost from DHT’s previous quarterly dividend of $0.41. This represents a $2.56 annualized dividend and a dividend yield of 14.4%. DHT’s dividend payout ratio (DPR) is currently 124.27%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its holdings in DHT by 91.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after acquiring an additional 1,596 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of DHT by 568.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock worth $43,000 after acquiring an additional 3,022 shares during the last quarter. Western Wealth Management LLC acquired a new position in shares of DHT during the first quarter worth approximately $46,000. Sound Income Strategies LLC acquired a new position in shares of DHT during the fourth quarter worth approximately $58,000. Finally, Leonteq Securities AG bought a new stake in shares of DHT during the fourth quarter valued at approximately $59,000. 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.