DHT (NYSE:DHT) Hits New 1-Year High – Should You Buy?

DHT Holdings, Inc. (NYSE:DHT)’s stock price hit a new 52-week high during mid-day trading on Thursday. The company traded as high as $26.91 and last traded at $24.9540, with a volume of 8,695,711 shares traded. The stock had previously closed at $26.59.

Wall Street Analyst Weigh In

DHT has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of DHT from a “buy (b+)” rating to a “buy (a)” rating in a report on Thursday, October 8th. BTIG Research increased their target price on shares of DHT from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

DHT Stock Performance

The company has a current ratio of 3.64, a quick ratio of 3.32 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 9.11 and a beta of -0.03. The stock has a 50-day simple moving average of $21.33 and a 200-day simple moving average of $19.09.

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

DHT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 19.6%. The ex-dividend date was Monday, August 17th. This is a positive change from DHT’s previous quarterly dividend of $0.64. DHT’s payout ratio is currently 165.99%.

Insider Activity at DHT

In related news, Director Svenn Edvardsen sold 341,007 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $20.29, for a total value of $6,919,032.03. Following the completion of the transaction, the director directly owned 395,705 shares of the company’s stock, valued at $8,028,854.45. This represents a 46.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sophie Rossini sold 33,000 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $20.04, for a total value of $661,320.00. Following the completion of the transaction, the director directly owned 78,543 shares of the company’s stock, valued at approximately $1,574,001.72. The trade was a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 583,803 shares of company stock valued at $11,843,097. Company insiders own 1.60% of the company’s stock.

Institutional Trading of DHT

A number of institutional investors have recently made changes to their positions in DHT. Triumph Capital Management raised its stake in shares of DHT by 46.6% in the 3rd quarter. Triumph Capital Management now owns 5,418 shares of the shipping company’s stock worth $122,000 after buying an additional 1,721 shares in the last quarter. Congress Asset Management Co. boosted its stake in shares of DHT by 20.7% during the 3rd quarter. Congress Asset Management Co. now owns 588,373 shares of the shipping company’s stock worth $13,280,000 after acquiring an additional 101,020 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of DHT during the second quarter valued at $237,000. Integrated Wealth Concepts LLC purchased a new position in DHT in the 2nd quarter worth about $83,000. Finally, Raiffeisen Bank International AG lifted its stake in DHT by 42.4% during the second quarter. Raiffeisen Bank International AG now owns 110,031 shares of the shipping company’s stock valued at $1,819,000 after buying an additional 32,765 shares in the last quarter. 58.53% of the stock is owned by institutional investors and hedge funds.

About DHT

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.