DHT (NYSE:DHT) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

DHT Holdings, Inc. (NYSE:DHT) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $16.35 and traded as high as $17.12. DHT shares last traded at $16.5490, with a volume of 4,523,523 shares.

Analysts Set New Price Targets

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

DHT Stock Down 3.1%

The firm’s 50 day simple moving average is $17.82 and its 200 day simple moving average is $16.35. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 8.03 and a beta of -0.12. The company has a quick ratio of 1.62, a current ratio of 1.83 and a debt-to-equity ratio of 0.33.

DHT (NYSE:DHT) last released its quarterly earnings results 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. The company had revenue of $157.20 million for the quarter, compared to analysts’ expectations of $152.15 million. DHT had a return on equity of 27.54% and a net margin of 58.54%.The business’s revenue for the quarter was up 134.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share.

DHT Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DHT. AQR Capital Management LLC grew its stake in shares of DHT by 178.9% in the first 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. acquired a new position in shares of DHT during the second quarter valued at $171,000. Creative Planning raised its stake in shares of DHT by 34.1% during the second quarter. Creative Planning now owns 15,189 shares of the shipping company’s stock valued at $164,000 after purchasing an additional 3,859 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of DHT by 11.3% during the second quarter. JPMorgan Chase & Co. now owns 400,068 shares of the shipping company’s stock valued at $4,325,000 after purchasing an additional 40,574 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of DHT during the second quarter valued at about $162,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

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.