DHT (NYSE:DHT) Insider Jon Stephen Eglin Sells 50,000 Shares

DHT Holdings, Inc. (NYSE:DHT) insider Jon Stephen Eglin sold 50,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $19.99, for a total value of $999,500.00. Following the completion of the sale, the insider directly owned 324,622 shares in the company, valued at $6,489,193.78. This trade represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

DHT Price Performance

Shares of NYSE:DHT opened at $19.74 on Friday. DHT Holdings, Inc. has a 1-year low of $10.83 and a 1-year high of $20.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.64 and a quick ratio of 3.32. The business has a fifty day moving average price of $18.30 and a 200-day moving average price of $17.76. The company has a market capitalization of $3.18 billion, a PE ratio of 6.71 and a beta of -0.11.

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

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be paid a dividend of $1.22 per share. The ex-dividend date is Monday, August 17th. This represents a $4.88 dividend on an annualized basis and a yield of 24.7%. This is an increase from DHT’s previous quarterly dividend of $0.64. DHT’s dividend payout ratio (DPR) is 165.99%.

Wall Street Analysts Forecast Growth

DHT has been the topic of several analyst reports. Weiss Ratings upgraded shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of DHT from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Three research analysts have rated the stock with 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 price target of $19.33.

Institutional Trading of DHT

A number of large investors have recently made changes to their positions in DHT. Arrowstreet Capital Limited Partnership raised its holdings in shares of DHT by 74.1% during 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 purchasing an additional 1,836,892 shares during the last quarter. Marex Group plc boosted its holdings in DHT by 5,860.2% in the fourth quarter. Marex Group plc now owns 1,084,752 shares of the shipping company’s stock worth $13,245,000 after purchasing an additional 1,066,552 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in DHT by 1,072.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,162,300 shares of the shipping company’s stock worth $21,235,000 after purchasing an additional 1,063,134 shares during the period. Qube Research & Technologies Ltd grew its position in DHT by 706.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock worth $11,650,000 after purchasing an additional 943,990 shares during the period. Finally, Bank of America Corp DE grew its position in DHT by 168.3% in 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 period. 58.53% of the stock is currently owned by institutional investors.

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.