DHT (NYSE:DHT) Shares Gap Down – What’s Next?

DHT Holdings, Inc. (NYSE:DHT)’s share price gapped down prior to trading on Friday . The stock had previously closed at $10.37, but opened at $10.07. DHT shares last traded at $10.22, with a volume of 192,031 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DHT. BTIG Research started coverage on shares of DHT in a report on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $14.00 target price on shares of DHT in a report on Wednesday, November 13th. Stifel Nicolaus lowered their target price on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. StockNews.com raised DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, Fearnley Fonds upgraded DHT to a “strong-buy” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.50.

DHT Stock Performance

The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 10.23 and a beta of -0.36. The company has a 50-day moving average price of $10.91 and a 200-day moving average price of $11.23. The company has a quick ratio of 1.97, a current ratio of 2.41 and a debt-to-equity ratio of 0.35.

DHT (NYSE:DHT) last released its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $92.64 million during the quarter, compared to analysts’ expectations of $87.51 million. DHT had a return on equity of 15.58% and a net margin of 27.72%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 earnings per share. As a group, equities research analysts forecast that DHT Holdings, Inc. will post 1 earnings per share for the current year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 22nd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 8.60%. The ex-dividend date is Friday, November 22nd. DHT’s dividend payout ratio is currently 108.00%.

Institutional Investors Weigh In On DHT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DHT. FMR LLC increased its position in shares of DHT by 10.0% during the 3rd quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock valued at $266,849,000 after purchasing an additional 2,195,916 shares during the period. Wasatch Advisors LP bought a new position in DHT during the third quarter valued at about $55,472,000. Acadian Asset Management LLC grew its holdings in DHT by 43.8% during the second quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock worth $39,184,000 after acquiring an additional 1,032,832 shares during the period. American Century Companies Inc. raised its position in DHT by 43.8% in the second quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock worth $33,183,000 after acquiring an additional 873,356 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in DHT by 15.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,102,800 shares of the shipping company’s stock valued at $23,194,000 after acquiring an additional 284,900 shares during the last quarter. 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.