DHT (NYSE:DHT) Hits New 12-Month High – Should You Buy?

DHT Holdings, Inc. (NYSE:DHT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.33 and last traded at $16.25, with a volume of 4057973 shares trading hands. The stock had previously closed at $15.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DHT shares. Wall Street Zen cut DHT from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Evercore upped their price objective on shares of DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. BTIG Research boosted their price target on shares of DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Jefferies Financial Group reissued a “buy” rating and issued a $16.00 price objective on shares of DHT in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, DHT currently has an average rating of “Moderate Buy” and an average target price of $16.33.

DHT Trading Up 2.1%

The company’s 50 day simple moving average is $13.38 and its 200 day simple moving average is $12.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.80 and a quick ratio of 2.47. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 12.40 and a beta of -0.07.

DHT (NYSE:DHT) last released its earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. DHT had a return on equity of 17.70% and a net margin of 42.35%.The firm had revenue of $117.80 million during the quarter, compared to analyst estimates of $116.96 million. During the same period last year, the business posted $0.34 earnings per share. DHT’s revenue was up 37.8% compared to the same quarter last year. As a group, research analysts expect that DHT Holdings, Inc. will post 0.94 earnings per share for the current fiscal year.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 19th will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, February 19th. This is a positive change from DHT’s previous quarterly dividend of $0.18. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.1%. DHT’s payout ratio is currently 54.96%.

Institutional Investors Weigh In On DHT

A number of large investors have recently modified their holdings of the company. Roble Belko & Company Inc acquired a new stake in shares of DHT in the 2nd quarter valued at $30,000. Federated Hermes Inc. increased its holdings in DHT by 101.6% in the third quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock valued at $32,000 after buying an additional 1,368 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in DHT by 190.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock valued at $33,000 after buying an additional 1,982 shares in the last quarter. EverSource Wealth Advisors LLC lifted 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 buying an additional 1,596 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of DHT by 96.5% during the 3rd quarter. Fifth Third Bancorp now owns 4,159 shares of the shipping company’s stock worth $50,000 after acquiring an additional 2,042 shares in the last quarter. 58.53% of the stock is owned by hedge funds and other 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.