DHT (NYSE:DHT) Hits New 1-Year High – Here’s Why

DHT Holdings, Inc. (NYSE:DHT)’s share price hit a new 52-week high during trading on Friday. The stock traded as high as $25.07 and last traded at $24.9060, with a volume of 5,515,824 shares. The stock had previously closed at $23.71.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings raised shares of DHT from a “buy (b+)” rating to a “buy (a)” rating in a report on Thursday. BTIG Research lifted their price objective on shares of DHT from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

DHT Price Performance

The company has a market cap of $3.97 billion, a price-to-earnings ratio of 8.38 and a beta of -0.03. 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 business has a 50-day moving average price of $20.86 and a 200 day moving average price of $18.91.

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

DHT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were given a $1.22 dividend. This is a positive change from DHT’s previous quarterly dividend of $0.64. The ex-dividend date was Monday, August 17th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 19.8%. DHT’s dividend payout ratio is 165.99%.

Insider Transactions at DHT

In other DHT news, insider Jon Eglin sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $19.99, for a total transaction of $999,500.00. Following the completion of the sale, the insider directly owned 324,622 shares of the company’s stock, valued at approximately $6,489,193.78. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erik Lind sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $22.46, for a total transaction of $673,800.00. Following the completion of the transaction, the director owned 132,294 shares of the company’s stock, valued at approximately $2,971,323.24. The trade was a 18.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 583,803 shares of company stock worth $11,843,097 in the last three months. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On DHT

A number of large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its position in shares of DHT by 568.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock valued at $43,000 after acquiring an additional 3,022 shares in the last quarter. Western Wealth Management LLC purchased a new position in DHT during the 1st quarter worth approximately $46,000. Triumph Capital Management grew its position in DHT by 155.0% during the 2nd quarter. Triumph Capital Management now owns 3,697 shares of the shipping company’s stock worth $61,000 after purchasing an additional 2,247 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in DHT during the 2nd quarter valued at $83,000. Finally, PNC Financial Services Group Inc. raised its stake in DHT by 32.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,846 shares of the shipping company’s stock valued at $89,000 after purchasing an additional 1,175 shares during the period. Institutional investors and hedge funds own 58.53% of the company’s stock.

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.