Key Points
- DHT director Erik Lind sold 30,000 shares at an average price of $22.46, generating $673,800. The sale reduced his direct ownership by 18.48% to 132,294 shares.
- DHT reported quarterly earnings of $1.22 per share, exceeding estimates of $1.18, 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 21.4% yield. Analysts maintain a “Moderate Buy” consensus, although the average price target is $19.33.
DHT Holdings, Inc. (NYSE:DHT - Get Free Report) Director Erik Lind sold 30,000 shares of DHT stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $22.46, for a total transaction of $673,800.00. Following the completion of the transaction, the director directly owned 132,294 shares in the company, valued at approximately $2,971,323.24. The trade was a 18.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
DHT Trading Down 1.0%
NYSE DHT opened at $22.80 on Friday. DHT Holdings, Inc. has a 52 week low of $10.83 and a 52 week high of $23.46. The company has a 50 day moving average price of $19.34 and a 200 day moving average price of $18.36. 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 firm has a market cap of $3.67 billion, a PE ratio of 7.76 and a beta of -0.09.
DHT (NYSE:DHT - Get Free Report) last announced its earnings results 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. DHT had a net margin of 65.52% and a return on equity of 39.40%. The company had revenue of $254.96 million during the quarter, compared to the consensus estimate of $247.17 million. During the same period last year, the firm earned $0.35 earnings per share. DHT's revenue was up 174.8% compared to the same quarter last year.
DHT Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were issued a dividend of $1.22 per share. The ex-dividend date was Monday, August 17th. This represents a $4.88 annualized dividend and a dividend yield of 21.4%. This is a boost from DHT's previous quarterly dividend of $0.64. DHT's dividend payout ratio (DPR) is currently 165.99%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings upgraded DHT from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, September 8th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.33.
Check Out Our Latest Research Report on DHT
Hedge Funds Weigh In On DHT
Several hedge funds and other institutional investors have recently modified their holdings of DHT. Arrowstreet Capital Limited Partnership grew its position in DHT by 74.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company's stock worth $78,849,000 after purchasing an additional 1,836,892 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of DHT by 168.3% in the first quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company's stock worth $21,674,000 after buying an additional 744,130 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of DHT by 1,072.1% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,162,300 shares of the shipping company's stock worth $21,235,000 after buying an additional 1,063,134 shares during the period. Empowered Funds LLC lifted its stake in shares of DHT by 6.0% during the first quarter. Empowered Funds LLC now owns 773,163 shares of the shipping company's stock worth $14,126,000 after buying an additional 43,514 shares during the period. Finally, Acorn Financial Advisory Services Inc. ADV purchased a new stake in shares of DHT during the first quarter valued at $13,123,000. 58.53% of the stock is owned by hedge funds and other institutional investors.
About DHT
(
Get Free Report)
DHT Holdings, Inc (NYSE: DHT) is a maritime transportation company that owns and operates crude oil tankers. Its fleet is primarily composed of very large crude carriers (VLCCs), which transport crude oil in international seaborne trade.
The company provides tanker transportation services to energy companies, commodity traders and other customers through a combination of voyage charters, time charters and related commercial arrangements. Its vessels serve major global crude oil trade routes linking oil-producing regions with refineries and consuming markets.
DHT was established in 2005 and is headquartered in Hamilton, Bermuda, with operations and commercial activities supported through international offices.
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