DHT Holdings, Inc. (NYSE:DHT) Stock Has Average Target Price of $21.00

DHT Holdings, Inc. (NYSE:DHT) has received a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $21.00.

Several equities analysts have recently weighed in on DHT shares. BTIG Research raised their target price 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 upgraded DHT from a “buy (b+)” rating to a “buy (a)” rating in a research report on Thursday, October 8th.

Insider Activity at DHT

In related news, insider Jon Eglin sold 25,000 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $21.00, for a total transaction of $525,000.00. Following the transaction, the insider directly owned 274,622 shares in the company, valued at approximately $5,767,062. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Erik Lind sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $22.46, for a total transaction of $673,800.00. Following the sale, the director directly owned 132,294 shares of the company’s stock, valued at approximately $2,971,323.24. This represents a 18.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 583,803 shares of company stock worth $11,843,097 over the last 90 days.

Institutional Trading of DHT

Hedge funds have recently bought and sold shares of the business. Reyes Financial Architecture Inc. purchased a new position in DHT in the 3rd quarter worth approximately $37,000. Western Wealth Management LLC purchased a new stake in shares of DHT in the first quarter valued at approximately $46,000. Caitong International Asset Management Co. Ltd grew its position in shares of 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 purchasing an additional 3,022 shares in the last quarter. Triumph Capital Management increased its holdings in shares of DHT by 155.0% in the second quarter. Triumph Capital Management now owns 3,697 shares of the shipping company’s stock valued at $61,000 after purchasing an additional 2,247 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 58.53% of the company’s stock.

DHT Stock Down 0.2%

Shares of DHT opened at $24.56 on Wednesday. The firm has a market cap of $3.96 billion, a P/E ratio of 8.35 and a beta of -0.03. DHT has a 12 month low of $11.64 and a 12 month high of $26.91. The stock’s 50 day moving average is $22.03 and its two-hundred day moving average is $19.35. The company has a current ratio of 3.64, a quick ratio of 3.32 and a debt-to-equity ratio of 0.29.

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

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 19.9%. The ex-dividend date was Monday, August 17th. This is an increase from DHT’s previous quarterly dividend of $0.64. DHT’s payout ratio is 165.99%.

DHT Company Profile

DHT Holdings, Inc (NYSE:DHT) is a maritime transportation company that owns and operates crude oil tankers. The company’s fleet is primarily composed of very large crude carriers (VLCCs), which transport large volumes of crude oil between major production and refining markets worldwide.

DHT provides ocean transportation services to energy companies, commodity traders and other customers through voyage charters, time charters and other commercial arrangements. Its operations include the commercial, technical and safety management of its vessels, with activities serving international crude oil trade routes across the Atlantic, Pacific and other major maritime regions.

Founded in 2005, DHT is incorporated in the Marshall Islands and has corporate and operational activities based in Bermuda, Norway and Singapore.