DHT (NYSE:DHT) Trading Down 2.7% - Here's What Happened

DHT Holdings, Inc. (NYSE:DHT - Get Free Report)'s share price fell 2.7% during trading on Monday . The stock traded as low as $10.25 and last traded at $10.32. 378,560 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 1,859,080 shares. The stock had previously closed at $10.60.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group boosted their target price on shares of DHT from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $12.68.

DHT Price Performance

The company's 50-day simple moving average is $10.51 and its 200 day simple moving average is $10.44. The company has a market cap of $1.68 billion, a PE ratio of 9.29 and a beta of -0.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.84.

DHT (NYSE:DHT - Get Free Report) last released its earnings results on Wednesday, February 5th. The shipping company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.12. DHT had a net margin of 31.72% and a return on equity of 17.42%. On average, sell-side analysts predict that DHT Holdings, Inc. will post 0.94 earnings per share for the current fiscal year.

DHT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.68 dividend on an annualized basis and a yield of 6.54%. DHT's payout ratio is 60.71%.

Institutional Investors Weigh In On DHT

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CENTRAL TRUST Co purchased a new position in shares of DHT in the first quarter valued at $170,000. Pinion Investment Advisors LLC grew its position in DHT by 154.9% in the first quarter. Pinion Investment Advisors LLC now owns 111,622 shares of the shipping company's stock valued at $1,172,000 after acquiring an additional 67,839 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of DHT during the first quarter valued at approximately $112,000. GAMMA Investing LLC lifted its position in shares of DHT by 81.5% during the first quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company's stock worth $25,000 after purchasing an additional 1,073 shares in the last quarter. Finally, GoalVest Advisory LLC lifted its position in shares of DHT by 27.2% during the first quarter. GoalVest Advisory LLC now owns 112,589 shares of the shipping company's stock worth $1,182,000 after purchasing an additional 24,084 shares in the last quarter. 58.53% of the stock is currently owned by institutional investors and hedge funds.

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.