DHT (NYSE:DHT) Shares Down 4.2% – Should You Sell?

DHT Holdings, Inc. (NYSE:DHT) fell 4.2% on Wednesday . The company traded as low as $17.73 and last traded at $17.7350. 2,635,849 shares were traded during mid-day trading, a decline of 41% from the average session volume of 4,461,065 shares. The stock had previously closed at $18.52.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of DHT from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings restated a “buy (b)” rating on shares of DHT in a research note on Wednesday, January 21st. BTIG Research lifted their price target on shares of DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Finally, Dnb Carnegie lowered shares of DHT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.33.

DHT Trading Down 4.4%

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 business has a 50 day simple moving average of $16.17 and a two-hundred day simple moving average of $13.84. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 13.51 and a beta of -0.13.

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

DHT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, February 19th were paid a dividend of $0.41 per share. This is a positive change from DHT’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, February 19th. This represents a $1.64 dividend on an annualized basis and a yield of 9.3%. DHT’s payout ratio is currently 125.19%.

Institutional Investors Weigh In On DHT

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. raised its stake 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 purchasing an additional 1,368 shares in the last quarter. PNC Financial Services Group Inc. grew its stake 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 worth $33,000 after purchasing an additional 1,982 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in DHT by 91.8% in the second 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 in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in DHT by 568.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock valued at $43,000 after buying an additional 3,022 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in DHT by 96.5% in the third quarter. Fifth Third Bancorp now owns 4,159 shares of the shipping company’s stock valued at $50,000 after buying an additional 2,042 shares during the last quarter. Institutional investors own 58.53% of the company’s stock.

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.