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

DHT Holdings, Inc. (NYSE:DHT) shares hit a new 52-week high on Friday . The company traded as high as $13.93 and last traded at $13.7520, with a volume of 297275 shares trading hands. The stock had previously closed at $13.40.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DHT shares. BTIG Research reissued a “buy” rating and set a $16.00 price target on shares of DHT in a research report on Thursday, October 30th. Evercore ISI boosted their target price on DHT from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Jefferies Financial Group reissued a “buy” rating and set a $16.00 target price on shares of DHT in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DHT in a research report on Wednesday. Finally, Wall Street Zen raised shares of DHT from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.67.

DHT Stock Up 2.4%

The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 11.07 and a beta of -0.07. The company has a quick ratio of 2.02, a current ratio of 2.41 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average price of $12.83 and a two-hundred day moving average price of $12.22.

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

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Wednesday, November 12th. DHT’s payout ratio is 58.06%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Roble Belko & Company Inc acquired a new stake in shares of DHT in the 2nd quarter valued at about $30,000. Federated Hermes Inc. raised its stake in DHT by 101.6% during the third quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock valued at $32,000 after buying an additional 1,368 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in DHT by 190.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock valued at $33,000 after buying an additional 1,982 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of DHT by 344.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,162 shares of the shipping company’s stock worth $34,000 after acquiring an additional 2,450 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of DHT by 91.8% in the 2nd 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 in the last quarter. 58.53% of the stock is owned by institutional investors and hedge funds.

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.