DHT (NYSE:DHT) Shares Gap Up to $11.39

DHT Holdings, Inc. (NYSE:DHT) gapped up before the market opened on Thursday . The stock had previously closed at $11.39, but opened at $11.67. DHT shares last traded at $11.69, with a volume of 247,973 shares changing hands.

Analysts Set New Price Targets

Several research firms recently weighed in on DHT. Truist Financial raised their price objective on DHT from $14.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 16th. TheStreet raised DHT from a “c+” rating to a “b-” rating in a report on Tuesday, February 6th. Finally, Jefferies Financial Group raised DHT from a “hold” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $14.00 in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.00.

DHT Price Performance

The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 11.48 and a beta of -0.33. The company has a fifty day simple moving average of $11.19 and a 200 day simple moving average of $10.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.94 and a current ratio of 3.54.

DHT (NYSE:DHT) last announced its earnings results on Tuesday, February 6th. The shipping company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $94.50 million for the quarter, compared to the consensus estimate of $95.78 million. DHT had a return on equity of 15.52% and a net margin of 28.78%. The business’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS. Equities research analysts forecast that DHT Holdings, Inc. will post 1.53 EPS for the current fiscal year.

DHT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 21st were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.74%. This is an increase from DHT’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, February 20th. DHT’s payout ratio is currently 88.89%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI lifted its stake in shares of DHT by 150.0% in the 4th quarter. National Bank of Canada FI now owns 5,000 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 3,000 shares during the period. McIlrath & Eck LLC acquired a new position in shares of DHT in the 3rd quarter valued at about $52,000. CWM LLC lifted its stake in shares of DHT by 3,696.2% in the 3rd quarter. CWM LLC now owns 6,985 shares of the shipping company’s stock valued at $72,000 after purchasing an additional 6,801 shares during the period. IFP Advisors Inc acquired a new position in shares of DHT in the 2nd quarter valued at about $77,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of DHT by 64.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 10,598 shares of the shipping company’s stock valued at $80,000 after purchasing an additional 4,155 shares during the period. 58.53% of the stock is owned by institutional investors and hedge funds.

DHT Company Profile

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. As of March 16, 2023, it had a fleet of 23 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.