DHT Holdings, Inc. (NYSE:DHT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of DHT Holdings, Inc. (NYSE:DHT) have earned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $19.3333.

Separately, Weiss Ratings downgraded DHT from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, August 24th.

DHT Stock Performance

NYSE:DHT opened at $20.93 on Tuesday. The firm’s fifty day simple moving average is $18.56 and its 200-day simple moving average is $18.15. The company has a quick ratio of 3.32, a current ratio of 3.64 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.37 billion, a PE ratio of 7.12 and a beta of -0.09. DHT has a fifty-two week low of $10.83 and a fifty-two week high of $21.09.

DHT (NYSE:DHT) last issued its quarterly earnings data 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 analysts’ expectations of $247.17 million. DHT had a return on equity of 39.40% and a net margin of 65.52%.DHT’s revenue was up 174.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share.

DHT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were issued a dividend of $1.22 per share. This is a boost from DHT’s previous quarterly dividend of $0.64. The ex-dividend date was Monday, August 17th. This represents a $4.88 dividend on an annualized basis and a yield of 23.3%. DHT’s payout ratio is currently 165.99%.

Insider Activity at DHT

In related news, insider Jon Eglin sold 50,000 shares of DHT stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $19.99, for a total transaction of $999,500.00. Following the completion of the sale, the insider owned 324,622 shares in the company, valued at approximately $6,489,193.78. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Laila Halvorsen sold 50,000 shares of the business’s stock in a transaction dated 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 directly owned 161,011 shares of the company’s stock, valued at $3,220,220. The trade was a 23.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 528,803 shares of company stock valued at $10,644,297 in the last ninety days.

Hedge Funds Weigh In On DHT

A number of institutional investors have recently modified their holdings of DHT. EverSource Wealth Advisors LLC boosted its position in DHT by 91.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after acquiring an additional 1,596 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of DHT by 568.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock worth $43,000 after purchasing an additional 3,022 shares during the period. Western Wealth Management LLC acquired a new stake in shares of DHT during the first quarter worth $46,000. Leonteq Securities AG acquired a new stake in shares of DHT during the fourth quarter worth $59,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of DHT in the third quarter valued at $60,000. 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.