DHT (NYSE:DHT) Hits New 52-Week High – Here’s What Happened

DHT Holdings, Inc. (NYSE:DHT) shares hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $26.91 and last traded at $24.9540, with a volume of 8,695,711 shares traded. The stock had previously closed at $26.59.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DHT. BTIG Research lifted their price target on DHT from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, September 18th. Weiss Ratings raised shares of DHT from a “buy (b+)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

DHT Stock Up 0.6%

The firm’s 50-day moving average is $21.53 and its 200 day moving average is $19.15. The firm has a market capitalization of $3.79 billion, a P/E ratio of 8.02 and a beta of -0.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.32 and a current ratio of 3.64.

DHT (NYSE:DHT) last issued its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.18 by $0.04. The firm had revenue of $254.96 million during 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 business’s quarterly revenue was up 174.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 earnings per share.

DHT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 20.7%. The ex-dividend date was Monday, August 17th. This is an increase from DHT’s previous quarterly dividend of $0.64. DHT’s dividend payout ratio is 165.99%.

Insider Transactions at DHT

In other news, CFO Laila Halvorsen sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $20.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer owned 161,011 shares of the company’s stock, valued at approximately $3,220,220. This trade represents a 23.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Svenn Edvardsen sold 341,007 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $20.29, for a total value of $6,919,032.03. Following the completion of the sale, the director owned 395,705 shares of the company’s stock, valued at $8,028,854.45. The trade was a 46.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 583,803 shares of company stock worth $11,843,097. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DHT

A number of hedge funds have recently bought and sold shares of DHT. Arrowstreet Capital Limited Partnership lifted its position in shares of DHT by 74.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company’s stock valued at $78,849,000 after acquiring an additional 1,836,892 shares during the period. Bank of America Corp DE boosted its holdings in shares of 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 buying an additional 744,130 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of 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 buying an additional 1,063,134 shares during the last quarter. Empowered Funds LLC grew its position in DHT by 6.0% during the first quarter. Empowered Funds LLC now owns 773,163 shares of the shipping company’s stock valued at $14,126,000 after buying an additional 43,514 shares during the period. Finally, Acorn Financial Advisory Services Inc. ADV bought a new position in DHT during the first quarter valued at about $13,123,000. Institutional investors 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.