DHT (NYSE:DHT) Sets New 12-Month High – Still a Buy?

DHT Holdings, Inc. (NYSE:DHT)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $13.87 and last traded at $13.6120, with a volume of 342543 shares changing hands. The stock had previously closed at $13.49.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on DHT shares. Wall Street Zen cut DHT from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. BTIG Research reiterated a “buy” rating and set a $16.00 price objective on shares of DHT in a report on Thursday, October 30th. Evercore ISI boosted their target price on shares of DHT from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $16.00 price objective on shares of DHT in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.67.

DHT Stock Up 1.6%

The company has a market capitalization of $2.20 billion, a PE ratio of 11.04 and a beta of -0.07. The stock’s fifty day moving average is $12.83 and its two-hundred day moving average is $12.12. The company has a current ratio of 2.41, a quick ratio of 2.02 and a debt-to-equity ratio of 0.22.

DHT (NYSE:DHT) last released its earnings results on Wednesday, October 29th. The shipping company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. The firm had revenue of $107.35 million for the quarter, compared to analysts’ expectations of $78.83 million. DHT had a net margin of 41.17% and a return on equity of 17.05%. The company’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. As a group, analysts predict that DHT Holdings, Inc. will post 0.94 EPS for the current year.

DHT Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $0.72 annualized dividend and a yield of 5.3%. DHT’s payout ratio is currently 58.06%.

Institutional Trading of DHT

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in DHT by 294.9% during the fourth quarter. SG Americas Securities LLC now owns 406,294 shares of the shipping company’s stock worth $4,961,000 after acquiring an additional 303,401 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of DHT by 21.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,936 shares of the shipping company’s stock worth $288,000 after acquiring an additional 4,178 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of DHT during the 3rd quarter valued at approximately $162,000. Sunbelt Securities Inc. purchased a new stake in DHT in the 3rd quarter worth $60,000. Finally, Dark Forest Capital Management LP bought a new position in DHT in the 3rd quarter worth approximately $1,160,000. 58.53% of the stock is owned by institutional investors.

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.