Svenn Magne Edvardsen Sells 341,007 Shares of DHT (NYSE:DHT) Stock

DHT Holdings, Inc. (NYSE:DHT) Director Svenn Magne Edvardsen sold 341,007 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $20.29, for a total transaction of $6,919,032.03. Following the completion of the transaction, the director owned 395,705 shares in the company, valued at approximately $8,028,854.45. This represents a 46.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

DHT Stock Performance

NYSE:DHT opened at $19.18 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.32 and a current ratio of 3.64. The stock has a market capitalization of $3.09 billion, a P/E ratio of 6.52 and a beta of -0.11. The company has a 50 day moving average price of $18.34 and a 200 day moving average price of $17.86. DHT Holdings, Inc. has a fifty-two week low of $10.83 and a fifty-two week high of $20.62.

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

DHT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 25.4%. The ex-dividend date of this dividend was Monday, August 17th. This is a positive change from DHT’s previous quarterly dividend of $0.64. DHT’s payout ratio is presently 165.99%.

Hedge Funds Weigh In On DHT

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its position in DHT by 168.3% during the 1st quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company’s stock worth $21,674,000 after purchasing an additional 744,130 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in shares of DHT in the fourth quarter valued at about $2,720,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of DHT by 74.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company’s stock valued at $78,849,000 after buying an additional 1,836,892 shares during the last quarter. WIT Partners Advisory Pte. Ltd. acquired a new stake in shares of DHT during the first quarter worth about $5,163,000. Finally, Strs Ohio acquired a new stake in shares of DHT during the fourth quarter worth about $774,000. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DHT has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of DHT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded DHT from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.33.

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.