DHT (NYSE:DHT) Shares Gap Up - Should You Buy?

DHT Holdings, Inc. (NYSE:DHT - Get Free Report)'s stock price 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.

Analysts Set New Price Targets

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

DHT Trading Down 1.3%

The company has a market cap of $1.79 billion, a price-to-earnings ratio of 10.13 and a beta of 0.07. 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 firm has a fifty day moving average price of $11.29 and a 200 day moving average price of $10.69.

DHT (NYSE:DHT - Get Free Report) last posted its quarterly earnings results 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. DHT had a return on equity of 17.08% and a net margin of 32.87%. The business had revenue of $79.34 million for the quarter, compared to analysts' expectations of $84.00 million. During the same quarter in the prior year, the business earned $0.29 EPS. The firm's revenue for the quarter was down 25.4% on a year-over-year basis. As a group, equities analysts predict that DHT Holdings, Inc. will post 0.94 EPS for the current fiscal year.

DHT Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, May 28th. Investors of record on Thursday, May 22nd were paid a $0.15 dividend. This represents a yield of 5.1%. The ex-dividend date was Wednesday, May 21st. DHT's dividend payout ratio (DPR) is presently 54.55%.

Institutional Investors Weigh In On DHT

A number of large investors have recently added to or reduced their stakes in DHT. Rhumbline Advisers raised its stake in DHT by 1.6% in the 4th quarter. Rhumbline Advisers now owns 275,473 shares of the shipping company's stock valued at $2,559,000 after acquiring an additional 4,454 shares during the period. Principal Financial Group Inc. raised its stake in DHT by 9.5% in the 4th quarter. Principal Financial Group Inc. now owns 107,906 shares of the shipping company's stock valued at $1,002,000 after acquiring an additional 9,341 shares during the period. Ieq Capital LLC bought a new stake in DHT in the 4th quarter valued at $116,000. Oppenheimer & Co. Inc. bought a new stake in DHT in the 4th quarter valued at $435,000. Finally, SBI Securities Co. Ltd. bought a new stake in DHT in the 4th quarter valued at $108,000. Institutional investors 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.