Acorn Financial Advisory Services Inc. ADV Makes New $13.12 Million Investment in DHT Holdings, Inc. $DHT

Acorn Financial Advisory Services Inc. ADV purchased a new stake in shares of DHT Holdings, Inc. (NYSE:DHT) during the 1st quarter, Holdings Channel.com reports. The fund purchased 718,271 shares of the shipping company’s stock, valued at approximately $13,123,000. DHT accounts for approximately 1.8% of Acorn Financial Advisory Services Inc. ADV’s investment portfolio, making the stock its 20th largest holding.

A number of other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of DHT by 91.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after acquiring an additional 1,596 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in DHT by 568.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock valued at $43,000 after purchasing an additional 3,022 shares during the period. Sound Income Strategies LLC purchased a new position in DHT in the 4th quarter worth approximately $58,000. Leonteq Securities AG purchased a new position in DHT during the fourth quarter valued at $59,000. Finally, Sunbelt Securities Inc. purchased a new position in DHT during the third quarter valued at $60,000. 58.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on DHT. Evercore cut shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price target on the stock. in a research note on Wednesday, April 22nd. Wall Street Zen raised DHT from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings upgraded DHT from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, June 23rd. Dnb Carnegie downgraded DHT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, BTIG Research raised their price target on DHT from $18.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, DHT currently has an average rating of “Moderate Buy” and an average target price of $19.33.

DHT Stock Performance

NYSE:DHT opened at $16.55 on Wednesday. The firm has a market capitalization of $2.67 billion, a PE ratio of 8.03 and a beta of -0.12. The stock’s fifty day moving average is $17.82 and its 200 day moving average is $16.35. DHT Holdings, Inc. has a fifty-two week low of $10.61 and a fifty-two week high of $20.55. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.62 and a current ratio of 1.83.

DHT (NYSE:DHT) last posted its quarterly earnings data on Tuesday, May 5th. The shipping company reported $0.64 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $152.15 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. The business’s revenue was up 134.9% compared to the same quarter last year.

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were paid a $0.64 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This is an increase from DHT’s previous quarterly dividend of $0.41. This represents a $2.56 annualized dividend and a yield of 15.5%. DHT’s payout ratio is 124.27%.

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.