Congress Asset Management Co. Boosts Stake in DHT Holdings, Inc. (NYSE:DHT)

Congress Asset Management Co. grew its stake in shares of DHT Holdings, Inc. (NYSE:DHT) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 414,628 shares of the shipping company’s stock after buying an additional 4,941 shares during the period. Congress Asset Management Co. owned 0.26% of DHT worth $4,573,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Quarry LP increased its position in DHT by 2,494.6% during the 2nd quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after purchasing an additional 3,717 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of DHT during the first quarter worth about $51,000. Nisa Investment Advisors LLC raised its position in shares of DHT by 52.2% in the third quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock valued at $76,000 after buying an additional 2,361 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of DHT during the second quarter valued at approximately $78,000. Finally, Point72 Hong Kong Ltd acquired a new stake in DHT during the second quarter worth approximately $80,000. 58.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on DHT. BTIG Research started coverage on DHT in a report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price target for the company. Stifel Nicolaus reduced their target price on DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com cut DHT from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Finally, Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

DHT Stock Performance

Shares of NYSE:DHT opened at $10.30 on Friday. The business has a 50-day moving average of $10.97 and a two-hundred day moving average of $11.34. The firm has a market capitalization of $1.66 billion, a PE ratio of 10.61 and a beta of -0.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.87 and a quick ratio of 2.33. DHT Holdings, Inc. has a 12 month low of $9.28 and a 12 month high of $12.80.

DHT (NYSE:DHT) last posted its earnings results on Monday, August 12th. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). DHT had a return on equity of 15.19% and a net margin of 27.45%. The business had revenue of $103.70 million for the quarter, compared to analyst estimates of $102.75 million. During the same period last year, the company posted $0.35 EPS. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, research analysts forecast that DHT Holdings, Inc. will post 1.02 earnings per share for the current year.

DHT Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 10.49%. DHT’s dividend payout ratio (DPR) is 111.34%.

DHT Profile

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.