DHT (NYSE:DHT) Stock Crosses Above 200-Day Moving Average – Here’s Why

DHT Holdings, Inc. (NYSE:DHT)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.78 and traded as high as $16.86. DHT shares last traded at $16.4350, with a volume of 1,729,339 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DHT. BTIG Research lifted their price target on shares of DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Evercore downgraded shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price target for the company. in a report on Wednesday, April 22nd. Weiss Ratings downgraded shares of DHT from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 4th. Wall Street Zen upgraded shares of DHT from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Dnb Carnegie downgraded shares of DHT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, DHT presently has an average rating of “Moderate Buy” and an average price target of $19.33.

DHT Price Performance

The company has a 50-day moving average of $17.75 and a two-hundred day moving average of $15.83. The stock has a market capitalization of $2.67 billion, a PE ratio of 8.05 and a beta of -0.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 1.62.

DHT (NYSE:DHT) last released its earnings results on Tuesday, May 5th. The shipping company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. DHT had a net margin of 58.54% and a return on equity of 27.54%. The firm had revenue of $157.20 million during the quarter, compared to the consensus estimate of $152.15 million. During the same period in the previous year, the firm earned $0.27 earnings per share. DHT’s revenue was up 134.9% compared to the same quarter last year.

DHT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were issued a $0.64 dividend. The ex-dividend date was Thursday, May 21st. This is a positive change from DHT’s previous quarterly dividend of $0.41. This represents a $2.56 dividend on an annualized basis and a yield of 15.4%. DHT’s payout ratio is presently 124.27%.

Institutional Investors Weigh In On DHT

Institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue grew its holdings in DHT by 593.3% in the fourth quarter. State of Alaska Department of Revenue now owns 41,145 shares of the shipping company’s stock valued at $501,000 after purchasing an additional 35,210 shares during the period. Kingsview Wealth Management LLC acquired a new position in DHT during the third quarter valued at approximately $2,657,000. GSA Capital Partners LLP lifted its position in DHT by 193.7% during the third quarter. GSA Capital Partners LLP now owns 195,438 shares of the shipping company’s stock valued at $2,335,000 after buying an additional 128,900 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of DHT during the fourth quarter worth $2,720,000. Finally, American Century Companies Inc. lifted its position in shares of DHT by 7.8% during the third quarter. American Century Companies Inc. now owns 5,280,063 shares of the shipping company’s stock worth $63,097,000 after purchasing an additional 380,688 shares in the last quarter. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

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.