Dimensional Fund Advisors LP Decreases Stake in DHT Holdings, Inc. $DHT

Key Points

• Dimensional Fund Advisors LP trimmed its DHT Holdings stake by 0.8% in the first quarter, selling 80,728 shares and leaving it with 10.34 million shares worth about $189 million.
• DHT posted stronger-than-expected results for the latest quarter, with EPS of $0.64 versus the $0.62 estimate and revenue of $157.2 million, up 134.9% year over year.
• The company raised its dividend to $0.64 per share quarterly, implying an annualized yield of 13.9%, while analysts currently hold a Moderate Buy consensus with a $19.33 price target.

Dimensional Fund Advisors LP reduced its holdings in shares of DHT Holdings, Inc. (NYSE:DHT - Free Report) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,343,906 shares of the shipping company's stock after selling 80,728 shares during the quarter. Dimensional Fund Advisors LP owned 6.43% of DHT worth $188,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in DHT by 91.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company's stock worth $36,000 after purchasing an additional 1,596 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of DHT by 568.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company's stock worth $43,000 after buying an additional 3,022 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of DHT during the 4th quarter valued at about $58,000. Leonteq Securities AG bought a new stake in DHT during the fourth quarter valued at approximately $59,000. Finally, Sunbelt Securities Inc. bought a new position in DHT in the third quarter worth approximately $60,000. 58.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DHT has been the subject of several analyst reports. BTIG Research upped their price objective on DHT from $18.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Wall Street Zen raised DHT from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Weiss Ratings downgraded DHT from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday. Finally, Evercore downgraded shares of DHT from an "outperform" rating to an "in-line" rating and set a $19.00 price target on the stock. in a report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.33.

DHT Price Performance

DHT opened at $18.46 on Friday. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 8.96 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 Holdings, Inc. has a 12-month low of $10.69 and a 12-month high of $20.55. The business's fifty day simple moving average is $17.57 and its 200-day simple moving average is $17.00.

DHT (NYSE:DHT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The shipping company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The company had revenue of $157.20 million during 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 revenue for the quarter was up 134.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share.

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 13.9%. The ex-dividend date of this dividend was Thursday, May 21st. This is an increase from DHT's previous quarterly dividend of $0.41. DHT's payout ratio is presently 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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