Brokerages Set DHT Holdings, Inc. (NYSE:DHT) Price Target at $19.33

by · The Markets Daily

Shares of DHT Holdings, Inc. (NYSE:DHT – Get Free Report) have received a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $19.3333.

DHT has been the topic of a number of research analyst reports. Wall Street Zen upgraded DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. BTIG Research increased their price target on DHT from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Weiss Ratings upgraded DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday. Finally, Evercore cut DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective on the stock. in a research report on Wednesday, April 22nd.

Get Our Latest Stock Report on DHT

DHT Stock Performance

Shares of DHT stock opened at $18.20 on Friday. The firm has a 50-day moving average of $17.86 and a 200-day moving average of $17.47. The company has a market cap of $2.93 billion, a P/E ratio of 6.19 and a beta of -0.11. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.64 and a quick ratio of 3.32. DHT has a one year low of $10.69 and a one year high of $20.55.

DHT (NYSE:DHT – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.04. DHT had a net margin of 65.52% and a return on equity of 39.40%. The business had revenue of $254.96 million for the quarter, compared to analysts’ expectations of $247.17 million. During the same period in the previous year, the company earned $0.35 earnings per share. The firm’s revenue for the quarter was up 174.8% compared to the same quarter last year.

DHT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 26.8%. The ex-dividend date is Monday, August 17th. This is a positive change from DHT’s previous quarterly dividend of $0.64. DHT’s dividend payout ratio (DPR) is presently 87.07%.

Insider Buying and Selling at DHT

In related news, Director Jeremy Kramer sold 29,796 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $18.65, for a total value of $555,695.40. Following the transaction, the director directly owned 71,332 shares of the company’s stock, valued at approximately $1,330,341.80. The trade was a 29.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of DHT

Several hedge funds have recently added to or reduced their stakes in DHT. Arrowstreet Capital Limited Partnership boosted its holdings in DHT by 74.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company’s stock worth $78,849,000 after buying an additional 1,836,892 shares during the period. Marex Group plc raised its holdings in DHT by 5,860.2% during the 4th quarter. Marex Group plc now owns 1,084,752 shares of the shipping company’s stock valued at $13,245,000 after acquiring an additional 1,066,552 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in DHT by 1,072.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,162,300 shares of the shipping company’s stock valued at $21,235,000 after acquiring an additional 1,063,134 shares during the period. Qube Research & Technologies Ltd lifted its position in shares of DHT by 706.0% during the second quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock worth $11,650,000 after acquiring an additional 943,990 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of DHT by 168.3% during the first quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company’s stock worth $21,674,000 after acquiring an additional 744,130 shares in the last quarter. Institutional investors own 58.53% of the company’s stock.

DHT Company Profile

(Get Free Report)

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.

Featured Stories