DHT (NYSE:DHT) Sets New 12-Month High – Here’s What Happened

DHT Holdings, Inc. (NYSE:DHT)’s stock price hit a new 52-week high during trading on Thursday. The company traded as high as $23.59 and last traded at $23.4680, with a volume of 1775927 shares traded. The stock had previously closed at $22.57.

Analysts Set New Price Targets

A number of brokerages have weighed in on DHT. Weiss Ratings raised shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, September 8th. BTIG Research increased their price target on shares of DHT from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

DHT Price Performance

The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 7.95 and a beta of -0.09. The company has a 50-day moving average price of $20.10 and a 200-day moving average price of $18.59. 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 announced its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.22 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 during the quarter, compared to analysts’ expectations of $247.17 million. During the same period in the prior year, the business posted $0.35 EPS. DHT’s revenue was up 174.8% on a year-over-year basis.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were paid a $1.22 dividend. The ex-dividend date of this dividend was Monday, August 17th. This is a boost from DHT’s previous quarterly dividend of $0.64. This represents a $4.88 annualized dividend and a yield of 20.9%. DHT’s payout ratio is currently 165.99%.

Insider Buying and Selling

In other news, Director Svenn Edvardsen sold 341,007 shares of DHT stock in a transaction on Friday, August 21st. The shares were sold at an average price of $20.29, for a total transaction of $6,919,032.03. Following the transaction, the director directly owned 395,705 shares of the company’s stock, valued at $8,028,854.45. This trade represents a 46.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jon Eglin sold 25,000 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $21.00, for a total transaction of $525,000.00. Following the completion of the transaction, the insider directly owned 274,622 shares of the company’s stock, valued at $5,767,062. This trade represents a 8.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 583,803 shares of company stock valued at $11,843,097. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DHT. BlueCrest Capital Management Ltd bought a new stake in shares of DHT in the second quarter worth about $237,000. Integrated Wealth Concepts LLC bought a new position in shares of DHT during the 2nd quarter valued at about $83,000. Raiffeisen Bank International AG grew its position in shares of DHT by 42.4% in the 2nd quarter. Raiffeisen Bank International AG now owns 110,031 shares of the shipping company’s stock valued at $1,819,000 after purchasing an additional 32,765 shares during the period. AXQ Capital LP acquired a new position in shares of DHT in the 2nd quarter valued at approximately $641,000. Finally, Triumph Capital Management grew its position in shares of DHT by 155.0% in the 2nd quarter. Triumph Capital Management now owns 3,697 shares of the shipping company’s stock valued at $61,000 after purchasing an additional 2,247 shares during the period. 58.53% of the stock is owned by institutional investors and hedge funds.

DHT Company Profile

DHT Holdings, Inc (NYSE: DHT) is a maritime transportation company that owns and operates crude oil tankers. The company primarily focuses on very large crude carriers (VLCCs), which transport substantial volumes of crude oil between major production and refining regions around the world.

DHT provides ocean transportation services through a combination of time charters, voyage charters and pool arrangements. Its vessels serve the international energy industry by moving crude oil from exporting regions to refineries and storage facilities in global markets.