DHT (NYSE:DHT) Hits New 1-Year High – What’s Next?

Shares of DHT Holdings, Inc. (NYSE:DHT) reached a new 52-week high on Monday . The stock traded as high as $20.55 and last traded at $18.7770, with a volume of 2885447 shares. The stock had previously closed at $19.49.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a research note on Wednesday, January 21st. Dnb Carnegie cut shares of DHT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. BTIG Research lifted their price target on shares of DHT from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Finally, Wall Street Zen lowered shares of DHT from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.33.

DHT Trading Down 2.1%

The firm’s 50 day simple moving average is $14.56 and its two-hundred day simple moving average is $13.18. The company has a quick ratio of 2.47, a current ratio of 2.80 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $3.09 billion, a P/E ratio of 14.68 and a beta of -0.13.

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

DHT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 19th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 8.5%. This is a boost from DHT’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, February 19th. DHT’s dividend payout ratio is presently 125.19%.

Hedge Funds Weigh In On DHT

A number of hedge funds and other institutional investors have recently made changes to their positions in DHT. GSA Capital Partners LLP raised its position in shares of DHT by 193.7% in the third quarter. GSA Capital Partners LLP now owns 195,438 shares of the shipping company’s stock valued at $2,335,000 after purchasing an additional 128,900 shares during the period. Harvey Capital Management Inc. bought a new stake in DHT during the 3rd quarter valued at $2,368,000. Bailard Inc. purchased a new stake in shares of DHT during the second quarter worth $623,000. Thrivent Financial for Lutherans boosted its holdings in shares of DHT by 112.1% in the third quarter. Thrivent Financial for Lutherans now owns 172,168 shares of the shipping company’s stock worth $2,057,000 after acquiring an additional 90,993 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of DHT in the second quarter valued at $329,000. 58.53% of the stock is owned by hedge funds and other institutional investors.

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.