DHT (NYSE:DHT) Trading Up 7% - What's Next?

Key Points

• DHT Holdings shares jumped 7% on Tuesday, trading as high as $18.59 after closing at $17.31 the day before, though volume was well below average.
• Analyst sentiment is mixed but constructive: Evercore downgraded the stock to in-line, while BTIG lifted its target to $23 and the consensus rating remains Moderate Buy with a $19.33 price target.
• Recent fundamentals looked strong, as DHT beat quarterly EPS and revenue estimates and raised its quarterly dividend to $0.64 per share, implying a 14% annualized yield.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) shares shot up 7% on Tuesday . The stock traded as high as $18.59 and last traded at $18.5150. 768,921 shares traded hands during trading, a decline of 80% from the average session volume of 3,886,476 shares. The stock had previously closed at $17.31.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DHT shares. Evercore downgraded shares of DHT from an "outperform" rating to an "in-line" rating and set a $19.00 target price for the company. in a research note on Wednesday, April 22nd. Wall Street Zen raised shares of DHT from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Weiss Ratings raised DHT from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, June 23rd. Finally, BTIG Research boosted their price objective on DHT from $18.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, DHT has an average rating of "Moderate Buy" and a consensus price target of $19.33.

DHT Trading Up 5.5%

The firm's 50-day moving average price is $17.65 and its 200 day moving average price is $16.66. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 8.86 and a beta of -0.11. The company has a current ratio of 1.83, a quick ratio of 1.62 and a debt-to-equity ratio of 0.33.

DHT (NYSE:DHT - Get Free Report) last released its earnings results on Tuesday, May 5th. The shipping company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. The company had revenue of $157.20 million for the quarter, compared to the consensus estimate of $152.15 million. DHT had a net margin of 58.54% and a return on equity of 27.54%. DHT's quarterly revenue was up 134.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 EPS.

DHT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.64 per share. This is an increase from DHT's previous quarterly dividend of $0.41. This represents a $2.56 annualized dividend and a dividend yield of 14.0%. The ex-dividend date was Thursday, May 21st. DHT's dividend payout ratio (DPR) is currently 124.27%.

Hedge Funds Weigh In On DHT

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its position in DHT by 74.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company's stock valued at $78,849,000 after buying an additional 1,836,892 shares in the last quarter. Marex Group plc grew its stake in DHT by 5,860.2% in the fourth quarter. Marex Group plc now owns 1,084,752 shares of the shipping company's stock valued at $13,245,000 after acquiring an additional 1,066,552 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in DHT by 1,072.1% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,162,300 shares of the shipping company's stock valued at $21,235,000 after acquiring an additional 1,063,134 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of DHT by 706.0% during the second quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company's stock valued at $11,650,000 after acquiring an additional 943,990 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of DHT by 168.3% during the first quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company's stock valued at $21,674,000 after acquiring an additional 744,130 shares in the last quarter. Institutional investors own 58.53% of the company's stock.

DHT Company Profile

DHT Holdings, Inc NYSE: DHT is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company's core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.

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