DHT (NYSE:DHT) Stock Passes Above 200 Day Moving Average – Time to Sell?

DHT Holdings, Inc. (NYSE:DHT) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.35 and traded as high as $17.12. DHT shares last traded at $16.5490, with a volume of 4,523,523 shares.

Wall Street Analyst Weigh In

DHT has been the subject of a number of analyst reports. 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 shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, June 23rd. Evercore downgraded DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective for the company. in a research report on Wednesday, April 22nd. Finally, BTIG Research boosted their price objective on DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, DHT currently has an average rating of “Moderate Buy” and an average price target of $19.33.

DHT Stock Performance

The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 8.33 and a beta of -0.11. The company’s 50 day simple moving average is $17.78 and its 200 day simple moving average is $16.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.62 and a current ratio of 1.83.

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

DHT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 14.9%. The ex-dividend date of this dividend was Thursday, May 21st. This is an increase from DHT’s previous quarterly dividend of $0.41. DHT’s dividend payout ratio is 124.27%.

Institutional Trading of DHT

A number of hedge funds and other institutional investors have recently modified their holdings of DHT. Rathbones Group PLC boosted its stake in DHT by 53.7% during the first quarter. Rathbones Group PLC now owns 15,750 shares of the shipping company’s stock valued at $288,000 after buying an additional 5,500 shares in the last quarter. Norris Financial Group LLC acquired a new position in DHT during the first quarter worth about $316,000. Western Wealth Management LLC bought a new stake in DHT in the first quarter worth about $46,000. Bank of America Corp DE raised its position in DHT by 168.3% in the first quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company’s stock worth $21,674,000 after acquiring an additional 744,130 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in DHT by 6.0% in the 1st quarter. Empowered Funds LLC now owns 773,163 shares of the shipping company’s stock valued at $14,126,000 after acquiring an additional 43,514 shares during the last quarter. Institutional investors own 58.53% of the company’s stock.

DHT Company Profile

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.