DHT (NYSE:DHT) Sets New 52-Week High - Should You Buy?

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 on Monday . The company 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

A number of equities analysts have recently weighed in on DHT shares. Zacks Research upgraded DHT to a "hold" rating in a report on Monday, August 11th. Jefferies Financial Group restated a "buy" rating and set a $15.00 target price on shares of DHT in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.94.

DHT Stock Down 2.4%

The firm has a 50 day simple moving average of $11.58 and a two-hundred day simple moving average of $11.16. The company has a market capitalization of $2.01 billion, a PE ratio of 10.58 and a beta of 0.03. The company has a current ratio of 2.33, a quick ratio of 1.96 and a debt-to-equity ratio of 0.23.

DHT (NYSE:DHT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The shipping company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $92.80 million during the quarter, compared to analysts' expectations of $95.41 million. DHT had a return on equity of 16.36% and a net margin of 36.58%.The company's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. Research analysts expect 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 Monday, August 25th. Stockholders of record on Monday, August 18th were given a $0.24 dividend. This is an increase from DHT's previous quarterly dividend of $0.17. This represents a $0.96 annualized dividend and a dividend yield of 7.7%. The ex-dividend date was Monday, August 18th. DHT's dividend payout ratio (DPR) is currently 81.36%.

Institutional Trading of DHT

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in DHT by 81.5% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company's stock valued at $25,000 after purchasing an additional 1,073 shares during the last quarter. Roble Belko & Company Inc purchased a new stake in shares of DHT in the second quarter worth about $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. CWM LLC boosted its holdings in DHT by 223.4% in the first quarter. CWM LLC now owns 3,063 shares of the shipping company's stock valued at $32,000 after purchasing an additional 2,116 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in DHT by 344.1% in the second quarter. Farther Finance Advisors LLC now owns 3,162 shares of the shipping company's stock valued at $34,000 after purchasing an additional 2,450 shares during the last quarter. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

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.