DHT (NYSE:DHT) Shares Gap Up - Still a Buy?

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $11.74, but opened at $12.11. DHT shares last traded at $11.98, with a volume of 372,537 shares trading hands.

Analysts Set New Price Targets

Several research firms have commented on DHT. Jefferies Financial Group reissued a "buy" rating and set a $15.00 price objective on shares of DHT in a report on Wednesday, May 7th. Evercore ISI decreased their price target on shares of DHT from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $12.94.

DHT Trading Down 4.1%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.29 and a current ratio of 1.59. The stock has a fifty day moving average of $11.22 and a 200-day moving average of $10.67. The company has a market cap of $1.79 billion, a PE ratio of 10.16 and a beta of 0.07.

DHT (NYSE:DHT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The shipping company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.12. The company had revenue of $79.34 million during the quarter, compared to analyst estimates of $84.00 million. DHT had a net margin of 32.87% and a return on equity of 17.08%. The firm's revenue for the quarter was down 25.4% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. Sell-side analysts anticipate that DHT Holdings, Inc. will post 0.94 EPS for the current fiscal year.

DHT Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, May 28th. Stockholders of record on Thursday, May 22nd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a dividend yield of 5.1%. DHT's dividend payout ratio is currently 54.55%.

Institutional Investors Weigh In On DHT

Hedge funds have recently modified their holdings of the business. 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. Tower Research Capital LLC TRC grew its holdings in shares of DHT by 84.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,771 shares of the shipping company's stock valued at $26,000 after buying an additional 1,265 shares during the last quarter. CWM LLC raised its stake in DHT by 223.4% in the 1st 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. Banque Transatlantique SA purchased a new stake in DHT during the 4th quarter valued at about $37,000. Finally, Sterling Capital Management LLC raised its stake in shares of DHT by 822.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,325 shares of the shipping company's stock worth $40,000 after purchasing an additional 3,856 shares during the last quarter. Hedge funds and other institutional investors own 58.53% of the company's stock.

DHT Company Profile

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.