DHT (NYSE:DHT) Reaches New 52-Week High - Here's Why

Key Points

• DHT Holdings, Inc. shares reached a new 52-week high of $13.04, closing at $12.75, with a trading volume of 462,767 shares.
• The company recently increased its dividend to $0.24 per share, up from $0.17, resulting in a 7.5% annualized yield.
• Analysts have a consensus rating of "Moderate Buy" for DHT, with a target price of $12.94, reflecting increased investor confidence despite a 10.5% decline in quarterly revenue compared to the previous year.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $13.04 and last traded at $12.75, with a volume of 462767 shares. The stock had previously closed at $12.34.

Analysts Set New Price Targets

Several analysts have commented on DHT shares. Zacks Research upgraded shares of DHT to a "hold" rating in a report on Monday, August 11th. Jefferies Financial Group reissued a "buy" rating and set a $15.00 price objective on shares of DHT in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, DHT currently has an average rating of "Moderate Buy" and an average price target of $12.94.

DHT Trading Up 1.8%

The company's 50-day moving average price is $11.47 and its 200-day moving average price is $11.11. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 10.98 and a beta of 0.03. The company has a quick ratio of 1.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.23.

DHT (NYSE:DHT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The shipping company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $92.80 million for the quarter, compared to analyst estimates of $95.41 million. DHT had a net margin of 36.58% and a return on equity of 16.36%. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 earnings per share. Equities analysts expect that DHT Holdings, Inc. will post 0.94 EPS for the current fiscal year.

DHT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.4%. This is an increase from DHT's previous quarterly dividend of $0.17. The ex-dividend date was Monday, August 18th. DHT's dividend payout ratio (DPR) is presently 81.36%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DHT. GAMMA Investing LLC boosted its holdings in shares of DHT by 81.5% in the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company's stock valued at $25,000 after buying an additional 1,073 shares in the last quarter. Roble Belko & Company Inc purchased a new position in DHT during the 2nd quarter valued at about $30,000. PNC Financial Services Group Inc. boosted its stake in shares of DHT by 190.9% during the 2nd 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 during the last quarter. CWM LLC boosted its position in shares of DHT by 223.4% in the first quarter. CWM LLC now owns 3,063 shares of the shipping company's stock worth $32,000 after acquiring an additional 2,116 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in DHT by 344.1% during the second quarter. Farther Finance Advisors LLC now owns 3,162 shares of the shipping company's stock valued at $34,000 after buying an additional 2,450 shares in the last quarter. Institutional investors and hedge funds own 58.53% of the company's stock.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.