DHT (NYSE:DHT) Shares Gap Up – Should You Buy?

DHT Holdings, Inc. (NYSE:DHT)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $9.33, but opened at $9.80. DHT shares last traded at $9.89, with a volume of 712,088 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently commented on DHT. Stifel Nicolaus lowered their price target on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Jefferies Financial Group restated a “buy” rating and set a $14.00 price target on shares of DHT in a report on Wednesday, November 13th. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. BTIG Research assumed coverage on shares of DHT in a report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, StockNews.com upgraded shares of DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.54.

DHT Trading Up 7.4 %

The stock has a market cap of $1.62 billion, a P/E ratio of 10.02 and a beta of -0.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97. The business’s 50 day simple moving average is $9.76 and its 200 day simple moving average is $10.66.

DHT (NYSE:DHT) last announced its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $92.64 million during the quarter, compared to analysts’ expectations of $87.51 million. DHT had a net margin of 27.72% and a return on equity of 15.58%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share. On average, analysts expect that DHT Holdings, Inc. will post 1 earnings per share for the current fiscal year.

DHT Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 8.78%. The ex-dividend date of this dividend was Friday, November 22nd. DHT’s dividend payout ratio is 88.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP lifted its stake in DHT by 2,494.6% during the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after purchasing an additional 3,717 shares during the period. Sunbelt Securities Inc. bought a new position in shares of DHT in the third quarter valued at approximately $50,000. Nisa Investment Advisors LLC raised its stake in shares of DHT by 52.2% in the third quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock valued at $76,000 after acquiring an additional 2,361 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of DHT in the second quarter valued at approximately $80,000. Finally, Soros Fund Management LLC bought a new position in shares of DHT in the third quarter valued at approximately $114,000. Institutional investors own 58.53% of the company’s stock.

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.