DHT Holdings, Inc. (NYSE:DHT) Stock Rated “Moderate Buy” by Wall Street Analysts

DHT Holdings, Inc. (NYSE:DHT) has received a consensus rating of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $21.00.

Several research analysts recently weighed in on DHT shares. Weiss Ratings raised DHT from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, September 8th. BTIG Research boosted their target price on DHT from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, September 18th.

Insider Activity at DHT

In other news, Director Sophie Rossini sold 33,000 shares of DHT stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $20.04, for a total transaction of $661,320.00. Following the sale, the director owned 78,543 shares in the company, valued at $1,574,001.72. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Svenn Edvardsen sold 341,007 shares of DHT stock in a transaction on Friday, August 21st. The stock was sold at an average price of $20.29, for a total transaction of $6,919,032.03. Following the sale, the director directly owned 395,705 shares in the company, valued at $8,028,854.45. This trade represents a 46.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 583,803 shares of company stock valued at $11,843,097. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DHT

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Western Wealth Management LLC bought a new stake in DHT in the first quarter valued at about $46,000. Caitong International Asset Management Co. Ltd lifted its stake in DHT by 568.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock valued at $43,000 after buying an additional 3,022 shares during the last quarter. Triumph Capital Management increased its holdings in shares of DHT by 155.0% in the 2nd quarter. Triumph Capital Management now owns 3,697 shares of the shipping company’s stock worth $61,000 after acquiring an additional 2,247 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of DHT by 32.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,846 shares of the shipping company’s stock valued at $89,000 after buying an additional 1,175 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in DHT during the 2nd quarter worth $83,000. Institutional investors own 58.53% of the company’s stock.

DHT Trading Up 0.8%

Shares of DHT opened at $22.59 on Friday. The stock has a fifty day moving average of $20.10 and a two-hundred day moving average of $18.59. DHT has a fifty-two week low of $10.83 and a fifty-two week high of $23.56. The company has a market capitalization of $3.64 billion, a PE ratio of 7.68 and a beta of -0.09. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.04. DHT had a return on equity of 39.40% and a net margin of 65.52%.The firm had revenue of $254.96 million for the quarter, compared to analyst estimates of $247.17 million. During the same period last year, the company earned $0.35 EPS. The firm’s quarterly revenue was up 174.8% on a year-over-year basis.

DHT Increases Dividend

The business also recently announced 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 21.6%. This is an increase from DHT’s previous quarterly dividend of $0.64. The ex-dividend date was Monday, August 17th. DHT’s payout ratio is 165.99%.

About DHT

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.