DHT (NYSE:DHT) Sets New 52-Week High – Time to Buy?

DHT Holdings, Inc. (NYSE:DHT) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $17.55 and last traded at $17.5160, with a volume of 4902224 shares changing hands. The stock had previously closed at $17.45.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DHT shares. Evercore lifted their target price on DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. BTIG Research raised their price objective on DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Weiss Ratings restated a “buy (b)” rating on shares of DHT in a report on Wednesday, January 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $16.00 target price on shares of DHT in a research note on Thursday, October 30th. Finally, Wall Street Zen cut shares of DHT from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, DHT presently has an average rating of “Moderate Buy” and an average target price of $16.33.

DHT Stock Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.47 and a current ratio of 2.80. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 13.37 and a beta of -0.07. The firm has a 50-day simple moving average of $13.75 and a two-hundred day simple moving average of $12.85.

DHT (NYSE:DHT) last posted its quarterly earnings data on Wednesday, February 4th. The shipping company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. The business had revenue of $117.80 million during the quarter, compared to analyst estimates of $116.96 million. DHT had a net margin of 42.35% and a return on equity of 17.70%. The business’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. On average, sell-side analysts anticipate that DHT Holdings, Inc. will post 0.94 EPS for the current fiscal year.

DHT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 19th will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, February 19th. This represents a $1.64 annualized dividend and a yield of 9.4%. This is a boost from DHT’s previous quarterly dividend of $0.18. DHT’s dividend payout ratio is 125.19%.

Institutional Trading of DHT

Several hedge funds have recently modified their holdings of DHT. Victory Capital Management Inc. boosted its holdings in DHT by 360.8% in the third quarter. Victory Capital Management Inc. now owns 2,963,693 shares of the shipping company’s stock valued at $35,416,000 after purchasing an additional 2,320,564 shares during the period. Marex Group plc boosted its stake in shares of DHT by 5,860.2% in the 4th 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 during the period. Qube Research & Technologies Ltd boosted its stake in shares of DHT by 706.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock valued at $11,650,000 after buying an additional 943,990 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of DHT during the fourth quarter worth about $8,927,000. Finally, Public Sector Pension Investment Board increased its stake in shares of DHT by 447.5% during the fourth quarter. Public Sector Pension Investment Board now owns 744,601 shares of the shipping company’s stock worth $9,092,000 after buying an additional 608,601 shares during the period. 58.53% of the stock is currently owned by institutional investors and hedge funds.

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.