Brokerages Set DHT Holdings, Inc. (NYSE:DHT) Price Target at $19.33

Shares of DHT Holdings, Inc. (NYSE:DHT) have received a consensus rating of “Moderate Buy” from the five research firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $19.3333.

Several research analysts recently issued reports on DHT shares. Evercore lowered DHT from an “outperform” rating to an “in-line” rating and set a $19.00 target price for the company. in a research report on Wednesday, April 22nd. Weiss Ratings raised DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, August 7th. Wall Street Zen upgraded DHT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, BTIG Research lifted their price objective on DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd.

DHT Trading Up 2.6%

DHT opened at $19.21 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.64 and a quick ratio of 3.32. DHT has a fifty-two week low of $10.69 and a fifty-two week high of $20.55. The company’s 50 day moving average price is $17.96 and its two-hundred day moving average price is $17.55. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 6.53 and a beta of -0.11.

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

DHT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 25.4%. The ex-dividend date is Monday, August 17th. This is a positive change from DHT’s previous quarterly dividend of $0.64. DHT’s dividend payout ratio (DPR) is 87.07%.

Insiders Place Their Bets

In related news, Director Jeremy Kramer sold 29,796 shares of DHT stock in a transaction on Friday, August 7th. The shares were sold at an average price of $18.65, for a total transaction of $555,695.40. Following the completion of the transaction, the director owned 71,332 shares of the company’s stock, valued at $1,330,341.80. This trade represents a 29.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Globeflex Capital L P bought a new stake in shares of DHT during the 2nd quarter valued at about $475,000. Redhawk Wealth Advisors Inc. increased its holdings in DHT by 117.9% in the second quarter. Redhawk Wealth Advisors Inc. now owns 25,394 shares of the shipping company’s stock worth $420,000 after purchasing an additional 13,738 shares in the last quarter. Baron Wealth Management LLC increased its holdings in DHT by 7.4% in the second quarter. Baron Wealth Management LLC now owns 15,843 shares of the shipping company’s stock worth $262,000 after purchasing an additional 1,093 shares in the last quarter. Rathbones Group PLC lifted its stake in DHT by 53.7% in 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 during the period. Finally, Norris Financial Group LLC bought a new position in shares of DHT during the 1st quarter worth approximately $316,000. 58.53% of the stock is owned by institutional investors.

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.