DHT (NYSE:DHT) Reaches New 1-Year High – Still a Buy?

DHT Holdings, Inc. (NYSE:DHT)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $20.61 and last traded at $20.57, with a volume of 1845961 shares trading hands. The stock had previously closed at $19.80.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of DHT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.33.

DHT Stock Up 1.4%

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 stock has a market cap of $3.23 billion, a PE ratio of 6.83 and a beta of -0.11. The business has a fifty day moving average of $18.25 and a 200-day moving average of $17.74.

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, topping 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 business had revenue of $254.96 million for the quarter, compared to analyst estimates of $247.17 million. During the same period in the previous year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was up 174.8% on a year-over-year basis.

DHT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be paid a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $4.88 annualized dividend and a yield of 24.3%. This is a boost from DHT’s previous quarterly dividend of $0.64. DHT’s dividend payout ratio is currently 165.99%.

Insider Transactions at DHT

In other news, Director Jeremy Kramer sold 29,796 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $18.65, for a total value of $555,695.40. Following the completion of the transaction, the director owned 71,332 shares of the company’s stock, valued at approximately $1,330,341.80. This trade represents a 29.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jon Stephen Eglin sold 50,000 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $19.99, for a total value of $999,500.00. Following the completion of the transaction, the insider owned 324,622 shares in the company, valued at approximately $6,489,193.78. The trade was a 13.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 129,796 shares of company stock worth $2,555,195. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DHT. Western Wealth Management LLC purchased a new stake in DHT during the 1st quarter worth $46,000. EverSource Wealth Advisors LLC boosted its holdings in shares of DHT by 91.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock valued at $36,000 after acquiring an additional 1,596 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in DHT by 568.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock worth $43,000 after buying an additional 3,022 shares in the last quarter. 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. Finally, PNC Financial Services Group Inc. grew its stake in DHT by 32.0% in the first 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 in the last quarter. Institutional investors and hedge funds 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.