DHT Holdings, Inc. $DHT Shares Sold by Renaissance Technologies LLC

Key Points

• Renaissance Technologies cut its DHT Holdings stake by 19.3% in the first quarter, selling 449,100 shares and retaining 1.88 million shares valued at approximately $34.3 million.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an average price target of $19.33, although Evercore downgraded the stock to “in-line.”
• DHT reported strong quarterly results, with EPS of $0.64 and revenue of $157.2 million, while raising its quarterly dividend to $0.64—an annualized yield of about 13.8%.

Renaissance Technologies LLC reduced its position in DHT Holdings, Inc. (NYSE:DHT - Free Report) by 19.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,878,745 shares of the shipping company's stock after selling 449,100 shares during the period. Renaissance Technologies LLC owned about 1.17% of DHT worth $34,325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position in DHT by 74.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company's stock worth $78,849,000 after purchasing an additional 1,836,892 shares in the last quarter. Marex Group plc increased its position in shares of 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 buying an additional 1,066,552 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of DHT by 706.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company's stock worth $11,650,000 after buying an additional 943,990 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of DHT during the 4th quarter worth $8,927,000. Finally, Acorn Financial Advisory Services Inc. ADV purchased a new stake in shares of DHT in the 1st quarter worth about $13,123,000. 58.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Evercore cut shares of DHT from an "outperform" rating to an "in-line" rating and set a $19.00 price objective on the stock. in a research note on Wednesday, April 22nd. Wall Street Zen upgraded shares of DHT from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. BTIG Research upped their price target on shares of DHT from $18.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings lowered shares of DHT from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.33.

DHT Stock Performance

DHT stock opened at $18.60 on Wednesday. DHT Holdings, Inc. has a fifty-two week low of $10.69 and a fifty-two week high of $20.55. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 9.03 and a beta of -0.11. The stock has a fifty day moving average of $17.60 and a two-hundred day moving average of $17.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.62 and a current ratio of 1.83.

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

DHT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were issued a $0.64 dividend. This is a positive change from DHT's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, May 21st. This represents a $2.56 dividend on an annualized basis and a yield of 13.8%. DHT's payout ratio is currently 124.27%.

About DHT

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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