DHT (NYSE:DHT) Shares Gap Down – Here’s What Happened

DHT Holdings, Inc. (NYSE:DHT) gapped down before the market opened on Tuesday . The stock had previously closed at $11.09, but opened at $10.85. DHT shares last traded at $10.96, with a volume of 293,527 shares traded.

Analyst Ratings Changes

A number of brokerages have commented on DHT. Jefferies Financial Group restated a “buy” rating and issued a $14.00 target price on shares of DHT in a research note on Wednesday, November 13th. BTIG Research began coverage on DHT in a research note on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price for the company. StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Kepler Capital Markets downgraded DHT from a “buy” rating to a “hold” rating and set a $9.70 target price for the company. in a research report on Thursday, December 12th. Finally, Stifel Nicolaus cut their target price on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.54.

DHT Price Performance

The company has a quick ratio of 1.97, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 11.17 and a beta of -0.38. The stock’s 50 day moving average price is $9.81 and its two-hundred day moving average price is $10.61.

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

DHT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.88%. The ex-dividend date of this dividend was Friday, November 22nd. DHT’s dividend payout ratio is currently 88.00%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in shares of DHT during the third quarter valued at about $611,000. Barclays PLC raised its position in DHT by 229.4% in the third quarter. Barclays PLC now owns 188,899 shares of the shipping company’s stock worth $2,083,000 after purchasing an additional 131,551 shares in the last quarter. International Assets Investment Management LLC raised its position in DHT by 1,144.6% in the third quarter. International Assets Investment Management LLC now owns 678,808 shares of the shipping company’s stock worth $7,487,000 after purchasing an additional 624,266 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in DHT in the third quarter worth about $2,611,000. Finally, Quantbot Technologies LP increased its holdings in shares of DHT by 107.4% during the third quarter. Quantbot Technologies LP now owns 205,971 shares of the shipping company’s stock worth $2,272,000 after buying an additional 106,683 shares in the last quarter. Institutional investors and hedge funds 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.