DHT (NYSE:DHT) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of DHT Holdings, Inc. (NYSE:DHT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.78 and traded as high as $16.86. DHT shares last traded at $16.4350, with a volume of 1,729,339 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Dnb Carnegie downgraded shares of DHT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. BTIG Research lifted their price target on shares of DHT from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Wall Street Zen upgraded shares of DHT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded shares of DHT from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday. Finally, Evercore downgraded shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price target for the company. in a research report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, DHT currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

DHT Stock Performance

The company has a current ratio of 1.83, a quick ratio of 1.62 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average price is $17.80 and its two-hundred day moving average price is $15.78. The firm has a market capitalization of $2.65 billion, a PE ratio of 7.98 and a beta of -0.12.

DHT (NYSE:DHT) last issued its quarterly earnings data on Tuesday, May 5th. The shipping company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. DHT had a net margin of 58.54% and a return on equity of 27.54%. The business had revenue of $157.20 million during the quarter, compared to analysts’ expectations of $152.15 million. During the same period last year, the company posted $0.27 EPS. The company’s revenue was up 134.9% on a year-over-year basis.

DHT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.64 per share. This is a positive change from DHT’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $2.56 dividend on an annualized basis and a dividend yield of 15.6%. DHT’s dividend payout ratio is 124.27%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DHT. AQR Capital Management LLC increased its stake in shares of DHT by 178.9% during the 1st quarter. AQR Capital Management LLC now owns 70,582 shares of the shipping company’s stock worth $741,000 after purchasing an additional 45,275 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in DHT in the 2nd quarter worth approximately $171,000. Creative Planning grew its stake in DHT by 34.1% in the 2nd quarter. Creative Planning now owns 15,189 shares of the shipping company’s stock worth $164,000 after acquiring an additional 3,859 shares during the period. JPMorgan Chase & Co. grew its stake in DHT by 11.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 400,068 shares of the shipping company’s stock worth $4,325,000 after acquiring an additional 40,574 shares during the period. Finally, Prudential Financial Inc. purchased a new stake in DHT in the 2nd quarter worth approximately $162,000. 58.53% of the stock is owned by hedge funds and other institutional investors.

DHT Company Profile

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.