Key Points
- DHT insider Jon Eglin sold 25,000 shares at an average price of $21, generating $525,000 and reducing his position by 8.34% to 274,622 shares. He also sold 75,000 shares in two earlier August transactions.
- DHT reported quarterly EPS of $1.22, exceeding 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, equivalent to an annualized $4.88 payout and a 23.5% yield, though its payout ratio stands at 165.99%.
DHT Holdings, Inc. (NYSE:DHT - Get Free Report) insider Jon Eglin sold 25,000 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $21.00, for a total transaction of $525,000.00. Following the transaction, the insider owned 274,622 shares in the company, valued at approximately $5,767,062. The trade was a 8.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Jon Stephen Eglin also recently made the following trade(s):
- On Friday, August 21st, Jon Eglin sold 25,000 shares of DHT stock. The shares were sold at an average price of $20.35, for a total transaction of $508,750.00.
- On Wednesday, August 19th, Jon Eglin sold 50,000 shares of DHT stock. The shares were sold at an average price of $19.99, for a total value of $999,500.00.
DHT Trading Down 0.4%
Shares of NYSE:DHT opened at $20.79 on Wednesday. The company has a market capitalization of $3.35 billion, a P/E ratio of 7.07 and a beta of -0.09. DHT Holdings, Inc. has a 1 year low of $10.83 and a 1 year high of $21.15. 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 business's 50 day simple moving average is $18.64 and its 200 day simple moving average is $18.17.
DHT (NYSE:DHT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The shipping company reported $1.22 earnings per share for the quarter, beating 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%.The company's quarterly revenue was up 174.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 EPS.
DHT Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 23.5%. This is a boost from DHT's previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Monday, August 17th. DHT's payout ratio is presently 165.99%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings downgraded DHT from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, August 24th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.33.
View Our Latest Research Report on DHT
Hedge Funds Weigh In On DHT
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its position in DHT by 74.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company's stock valued at $78,849,000 after purchasing an additional 1,836,892 shares during the last quarter. Marex Group plc increased its stake in shares of DHT by 5,860.2% in the fourth quarter. Marex Group plc now owns 1,084,752 shares of the shipping company's stock valued at $13,245,000 after buying an additional 1,066,552 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of DHT by 1,072.1% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,162,300 shares of the shipping company's stock valued at $21,235,000 after buying an additional 1,063,134 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of DHT by 706.0% in the second quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company's stock valued at $11,650,000 after buying an additional 943,990 shares during the period. Finally, Bank of America Corp DE raised its holdings in DHT by 168.3% in the 1st quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company's stock valued at $21,674,000 after buying an additional 744,130 shares during the last quarter. Institutional investors and hedge funds own 58.53% of the company's stock.
DHT Company Profile
(
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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