Key Points
- Director Jeremy Kramer sold 29,796 DHT shares at an average price of $18.65, generating approximately $555,695. After the transaction, he retained 71,332 shares, a 29.46% reduction in his position.
- DHT reported quarterly EPS of $1.22, beating estimates by $0.04, while revenue rose 174.8% year over year to $254.96 million.
- The company increased its quarterly dividend to $1.22 per share, implying an annualized dividend of $4.88 and a 26.8% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $19.33.
DHT Holdings, Inc. (NYSE:DHT - Get Free Report) Director Jeremy Kramer sold 29,796 shares of DHT stock in a transaction on Friday, August 7th. The shares were sold at an average price of $18.65, for a total transaction of $555,695.40. Following the completion of the sale, the director directly owned 71,332 shares in the company, valued at $1,330,341.80. This represents a 29.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
DHT Price Performance
Shares of NYSE DHT opened at $18.20 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.32 and a current ratio of 3.64. The firm has a fifty day moving average of $17.86 and a 200 day moving average of $17.47. The firm has a market cap of $2.93 billion, a PE ratio of 6.19 and a beta of -0.11. DHT Holdings, Inc. has a one year low of $10.69 and a one year high of $20.55.
DHT (NYSE:DHT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The shipping company reported $1.22 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $247.17 million. During the same period last year, the firm posted $0.35 earnings per share. The company's revenue was up 174.8% compared to the same quarter last year.
DHT Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be given a dividend of $1.22 per share. This is a boost from DHT's previous quarterly dividend of $0.64. The ex-dividend date is Monday, August 17th. This represents a $4.88 annualized dividend and a dividend yield of 26.8%. DHT's payout ratio is currently 87.07%.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. BTIG Research boosted their price target on DHT from $18.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Evercore cut shares of DHT from an "outperform" rating to an "in-line" rating and set a $19.00 target price on the stock. in a research note on Wednesday, April 22nd. Weiss Ratings raised shares of DHT from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday. Finally, Wall Street Zen raised shares of DHT from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $19.33.
Get Our Latest Stock Analysis on DHT
Institutional Investors Weigh In On DHT
A number of institutional investors have recently made changes to their positions in the stock. Redhawk Wealth Advisors Inc. raised its stake in shares of DHT by 117.9% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 25,394 shares of the shipping company's stock valued at $420,000 after acquiring an additional 13,738 shares during the period. Baron Wealth Management LLC boosted its position in shares of DHT by 7.4% during the 2nd quarter. Baron Wealth Management LLC now owns 15,843 shares of the shipping company's stock worth $262,000 after purchasing an additional 1,093 shares during the period. Rathbones Group PLC increased its holdings in DHT by 53.7% in the 1st quarter. Rathbones Group PLC now owns 15,750 shares of the shipping company's stock valued at $288,000 after purchasing an additional 5,500 shares during the last quarter. Norris Financial Group LLC acquired a new stake in DHT in the 1st quarter valued at approximately $316,000. Finally, Western Wealth Management LLC acquired a new stake in DHT in the 1st quarter valued at approximately $46,000. 58.53% of the stock is currently owned by institutional investors and hedge funds.
About DHT
(
Get Free Report)
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.
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