DHT (NYSE:DHT) Reaches New 12-Month High – Time to Buy?

DHT Holdings, Inc. (NYSE:DHT)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $15.68 and last traded at $15.4650, with a volume of 4314427 shares traded. The stock had previously closed at $15.06.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DHT shares. Wall Street Zen cut shares of DHT from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $16.00 price target on shares of DHT in a research report on Thursday, October 30th. Evercore increased their price objective on DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. BTIG Research raised their price objective on DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of DHT in a research note on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.33.

DHT Stock Performance

The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 12.14 and a beta of -0.07. The company has a current ratio of 2.80, a quick ratio of 2.47 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average of $13.24 and a 200-day moving average of $12.60.

DHT (NYSE:DHT) last posted its quarterly earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. DHT had a return on equity of 17.70% and a net margin of 42.35%.The business had revenue of $117.80 million for the quarter, compared to the consensus estimate of $116.96 million. During the same quarter in the previous year, the business earned $0.34 EPS. The company’s quarterly revenue was up 37.8% compared to the same quarter last year. As a group, sell-side analysts predict that DHT Holdings, Inc. will post 0.94 earnings per share for the current year.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 19th will be given a $0.41 dividend. This is an increase from DHT’s previous quarterly dividend of $0.18. This represents a $1.64 dividend on an annualized basis and a yield of 10.3%. The ex-dividend date is Thursday, February 19th. DHT’s payout ratio is currently 125.19%.

Institutional Trading of DHT

Institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. boosted its holdings in shares of DHT by 101.6% in the 3rd quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 1,368 shares during the last quarter. Roble Belko & Company Inc acquired a new position in DHT during the second quarter valued at $30,000. PNC Financial Services Group Inc. boosted its holdings in DHT by 190.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock valued at $33,000 after purchasing an additional 1,982 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in DHT by 91.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after purchasing an additional 1,596 shares during the period. Finally, Fifth Third Bancorp grew its position in DHT by 96.5% during the 3rd quarter. Fifth Third Bancorp now owns 4,159 shares of the shipping company’s stock worth $50,000 after purchasing an additional 2,042 shares during the period. 58.53% of the stock is currently 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.