DHT Sees Unusually Large Options Volume (NYSE:DHT)

DHT Holdings, Inc. (NYSE:DHT) was the target of some unusual options trading activity on Thursday. Stock investors bought 16,670 call options on the company. This represents an increase of 111% compared to the average daily volume of 7,903 call options.

DHT Trading Up 0.8%

Shares of DHT stock traded up $0.15 on Thursday, hitting $18.16. 693,795 shares of the stock traded hands, compared to its average volume of 3,874,063. The firm’s 50-day moving average price is $17.61 and its two-hundred day moving average price is $16.74. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.62 and a current ratio of 1.83. The stock has a market capitalization of $2.92 billion, a PE ratio of 8.79 and a beta of -0.11. DHT has a twelve month low of $10.61 and a twelve month high of $20.55.

DHT (NYSE:DHT) last released its quarterly earnings data on Tuesday, May 5th. The shipping company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $157.20 million during the quarter, compared to analysts’ expectations of $152.15 million. DHT had a net margin of 58.54% and a return on equity of 27.54%. DHT’s revenue was up 134.9% compared to the same quarter last year. During the same period last year, the business earned $0.27 earnings per share.

DHT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were issued a $0.64 dividend. This is a boost from DHT’s previous quarterly dividend of $0.41. This represents a $2.56 dividend on an annualized basis and a yield of 14.1%. The ex-dividend date was Thursday, May 21st. DHT’s payout ratio is currently 124.27%.

Institutional Investors Weigh In On DHT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its stake in shares of DHT by 91.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock valued at $36,000 after purchasing an additional 1,596 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of DHT by 568.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock worth $43,000 after purchasing an additional 3,022 shares during the last quarter. Western Wealth Management LLC purchased a new stake in DHT in the 1st quarter valued at about $46,000. Sound Income Strategies LLC acquired a new position in DHT in the fourth quarter valued at about $58,000. Finally, Leonteq Securities AG acquired a new position in DHT in the fourth quarter valued at about $59,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BTIG Research boosted their price target on shares of DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Finally, Evercore lowered DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price target for the company. in a research report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.