Wells Fargo & Company MN Purchases 30,600 Shares of DHT Holdings, Inc. (NYSE:DHT)

Wells Fargo & Company MN raised its position in DHT Holdings, Inc. (NYSE:DHT - Free Report) by 43.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,829 shares of the shipping company's stock after acquiring an additional 30,600 shares during the quarter. Wells Fargo & Company MN owned approximately 0.06% of DHT worth $937,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in DHT by 13.1% during the fourth quarter. American Century Companies Inc. now owns 4,053,584 shares of the shipping company's stock worth $37,658,000 after purchasing an additional 468,281 shares during the period. Geode Capital Management LLC boosted its stake in shares of DHT by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,657,699 shares of the shipping company's stock worth $15,400,000 after acquiring an additional 5,603 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in DHT by 78.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 743,379 shares of the shipping company's stock valued at $6,906,000 after acquiring an additional 327,442 shares during the period. Victory Capital Management Inc. raised its position in shares of DHT by 1,367.3% in the fourth quarter. Victory Capital Management Inc. now owns 503,869 shares of the shipping company's stock valued at $4,681,000 after purchasing an additional 469,528 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of DHT by 37.3% during the 4th quarter. JPMorgan Chase & Co. now owns 454,647 shares of the shipping company's stock worth $4,224,000 after buying an additional 123,599 shares during the last quarter. Institutional investors own 58.53% of the company's stock.

DHT Trading Up 1.7 %

Shares of NYSE:DHT opened at $10.67 on Wednesday. The business's 50 day simple moving average is $10.41 and its 200 day simple moving average is $10.37. The company has a market capitalization of $1.72 billion, a P/E ratio of 9.52 and a beta of -0.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.84 and a quick ratio of 1.50. DHT Holdings, Inc. has a 1 year low of $8.67 and a 1 year high of $12.80.

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

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.68 annualized dividend and a dividend yield of 6.38%. DHT's dividend payout ratio is currently 60.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Evercore ISI cut their price objective on shares of DHT from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group boosted their price target on DHT from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, DHT currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.74.

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.

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