DHT (NYSE:DHT) Shares Gap Down – Here’s What Happened

DHT Holdings, Inc. (NYSE:DHT) shares gapped down prior to trading on Monday . The stock had previously closed at $19.52, but opened at $18.42. DHT shares last traded at $18.5150, with a volume of 371,865 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. BTIG Research raised their price objective on DHT from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Weiss Ratings raised shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, August 7th. Wall Street Zen upgraded shares of DHT from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Evercore downgraded shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 target price for the company. in a research report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.33.

DHT Stock Down 4.3%

The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 6.35 and a beta of -0.11. The business’s 50 day moving average is $18.02 and its 200-day moving average is $17.59. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.32 and a current ratio of 3.64.

DHT (NYSE:DHT) last posted its quarterly earnings data on Wednesday, August 5th. The shipping company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.04. DHT had a net margin of 65.52% and a return on equity of 39.40%. The business had revenue of $254.96 million for the quarter, compared to the consensus estimate of $247.17 million. During the same period last year, the firm posted $0.35 earnings per share. The company’s revenue was up 174.8% compared to the same quarter last year.

DHT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be paid a $1.22 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $4.88 dividend on an annualized basis and a yield of 26.1%. This is a boost from DHT’s previous quarterly dividend of $0.64. DHT’s dividend payout ratio is 87.07%.

Insider Transactions at DHT

In other DHT news, Director Jeremy Kramer sold 29,796 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $18.65, for a total transaction of $555,695.40. Following the completion of the sale, the director directly owned 71,332 shares in the company, valued at approximately $1,330,341.80. The trade was a 29.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On DHT

Several hedge funds and other institutional investors have recently made changes to their positions in DHT. AQR Capital Management LLC raised its stake in DHT by 178.9% in the 1st quarter. AQR Capital Management LLC now owns 70,582 shares of the shipping company’s stock valued at $741,000 after purchasing an additional 45,275 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in DHT during the 2nd quarter worth $171,000. Creative Planning boosted its stake in DHT by 34.1% during the 2nd quarter. Creative Planning now owns 15,189 shares of the shipping company’s stock worth $164,000 after purchasing an additional 3,859 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of DHT by 11.3% during the second quarter. JPMorgan Chase & Co. now owns 400,068 shares of the shipping company’s stock worth $4,325,000 after buying an additional 40,574 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of DHT during the second quarter worth $162,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

DHT Company Profile

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.