Cornercap Investment Counsel Inc. Sells 1,019 Shares of DHT Holdings, Inc. (NYSE:DHT)

Cornercap Investment Counsel Inc. trimmed its position in shares of DHT Holdings, Inc. (NYSE:DHT) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 102,814 shares of the shipping company’s stock after selling 1,019 shares during the quarter. Cornercap Investment Counsel Inc. owned approximately 0.06% of DHT worth $1,190,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. ProShare Advisors LLC boosted its position in DHT by 7.2% during the 1st quarter. ProShare Advisors LLC now owns 24,358 shares of the shipping company’s stock valued at $280,000 after acquiring an additional 1,640 shares in the last quarter. Olympiad Research LP boosted its position in DHT by 6.6% during the 4th quarter. Olympiad Research LP now owns 41,180 shares of the shipping company’s stock valued at $404,000 after acquiring an additional 2,552 shares in the last quarter. National Bank of Canada FI boosted its position in DHT by 150.0% during the 4th quarter. National Bank of Canada FI now owns 5,000 shares of the shipping company’s stock valued at $50,000 after acquiring an additional 3,000 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its position in DHT by 6.2% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 70,308 shares of the shipping company’s stock valued at $813,000 after acquiring an additional 4,081 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in DHT during the 1st quarter valued at approximately $51,000. 58.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Stifel Nicolaus lifted their price objective on DHT from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. StockNews.com cut DHT from a “hold” rating to a “sell” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.67.

DHT Stock Performance

Shares of DHT opened at $10.93 on Friday. The company has a quick ratio of 2.33, a current ratio of 2.87 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average price is $11.03 and its 200-day moving average price is $11.37. DHT Holdings, Inc. has a 52 week low of $8.60 and a 52 week high of $12.80. The stock has a market cap of $1.76 billion, a P/E ratio of 10.41 and a beta of -0.36.

DHT (NYSE:DHT) last issued its quarterly earnings results on Monday, August 12th. The shipping company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). DHT had a return on equity of 15.19% and a net margin of 27.45%. The company had revenue of $103.70 million during the quarter, compared to the consensus estimate of $102.75 million. During the same period in the prior year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. Equities research analysts anticipate that DHT Holdings, Inc. will post 1.14 earnings per share for the current fiscal year.

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were issued a $0.27 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 9.88%. DHT’s payout ratio is currently 102.86%.

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.