DHT Holdings, Inc. $DHT Shares Sold by 683 Capital Management LLC

Key Points

• 683 Capital Management LLC reduced its stake in DHT Holdings by 25.0%, owning 150,000 shares after selling 50,000 in the 1st quarter.
• DHT Holdings has declared a quarterly dividend of $0.24 per share, an increase from the previous dividend of $0.17, representing an annualized yield of 8.2%.
• Analysts maintain a Moderate Buy rating on DHT with an average price target of $12.94, and recent earnings have shown a small year-over-year revenue decline.

683 Capital Management LLC lowered its position in DHT Holdings, Inc. (NYSE:DHT - Free Report) by 25.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,000 shares of the shipping company's stock after selling 50,000 shares during the quarter. 683 Capital Management LLC owned approximately 0.09% of DHT worth $1,575,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Perbak Capital Partners LLP purchased a new stake in shares of DHT during the first quarter worth approximately $354,000. EP Wealth Advisors LLC raised its stake in shares of DHT by 11.0% during the first quarter. EP Wealth Advisors LLC now owns 28,980 shares of the shipping company's stock worth $304,000 after purchasing an additional 2,865 shares during the last quarter. Energy Income Partners LLC raised its stake in shares of DHT by 85.0% during the first quarter. Energy Income Partners LLC now owns 144,247 shares of the shipping company's stock worth $1,515,000 after purchasing an additional 66,284 shares during the last quarter. Vident Advisory LLC raised its stake in shares of DHT by 24.5% during the first quarter. Vident Advisory LLC now owns 66,269 shares of the shipping company's stock worth $696,000 after purchasing an additional 13,041 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of DHT during the first quarter worth approximately $113,000. Hedge funds and other institutional investors own 58.53% of the company's stock.

DHT Price Performance

DHT stock traded up $0.17 on Friday, reaching $12.44. 2,363,382 shares of the company's stock were exchanged, compared to its average volume of 1,256,772. The stock has a fifty day moving average of $11.28 and a 200-day moving average of $11.03. DHT Holdings, Inc. has a twelve month low of $8.67 and a twelve month high of $12.53. The firm has a market cap of $2.00 billion, a PE ratio of 10.54 and a beta of 0.03. The company has a quick ratio of 1.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.23.

DHT (NYSE:DHT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The shipping company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. DHT had a return on equity of 16.36% and a net margin of 36.58%.The firm had revenue of $92.80 million for the quarter, compared to analyst estimates of $95.41 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. DHT's quarterly revenue was down 10.5% 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were issued a dividend of $0.24 per share. This is a boost from DHT's previous quarterly dividend of $0.17. This represents a $0.96 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Monday, August 18th. DHT's dividend payout ratio is currently 81.36%.

Wall Street Analyst Weigh In

DHT has been the subject of several analyst reports. Zacks Research upgraded DHT to a "hold" rating in a research note on Monday, August 11th. Jefferies Financial Group restated a "buy" rating and set a $15.00 price target on shares of DHT in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $12.94.

DHT 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.