DHT (NYSE:DHT) Director Sells $555,695.40 in Stock

DHT Holdings, Inc. (NYSE:DHT) Director Jeremy Kramer sold 29,796 shares of the business’s 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 sale, the director directly owned 71,332 shares of the company’s stock, valued at $1,330,341.80. This represents a 29.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

DHT Trading Up 2.6%

DHT stock opened at $19.21 on Friday. The company has a market capitalization of $3.09 billion, a PE ratio of 6.53 and a beta of -0.11. DHT Holdings, Inc. has a 12 month low of $10.69 and a 12 month high of $20.55. The firm’s 50-day moving average is $17.96 and its 200 day moving average is $17.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.64 and a quick ratio of 3.32.

DHT (NYSE:DHT) last released 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. The company had revenue of $254.96 million during the quarter, compared to analysts’ expectations of $247.17 million. DHT had a net margin of 65.52% and a return on equity of 39.40%. The firm’s quarterly revenue was up 174.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 EPS.

DHT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be paid a dividend of $1.22 per share. This is a boost from DHT’s previous quarterly dividend of $0.64. This represents a $4.88 annualized dividend and a dividend yield of 25.4%. The ex-dividend date of this dividend is Monday, August 17th. DHT’s payout ratio is presently 87.07%.

Analysts Set New Price Targets

Several brokerages recently issued reports on DHT. Weiss Ratings raised DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, August 7th. Wall Street Zen raised DHT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Evercore cut DHT from an “outperform” rating to an “in-line” rating and set a $19.00 target price for the company. in a report on Wednesday, April 22nd. Finally, BTIG Research increased 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. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

Institutional Investors Weigh In On DHT

Several hedge funds have recently modified their holdings of DHT. AQR Capital Management LLC boosted its stake in shares of DHT by 178.9% during the first quarter. AQR Capital Management LLC now owns 70,582 shares of the shipping company’s stock valued at $741,000 after purchasing an additional 45,275 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in DHT in the second quarter worth approximately $171,000. Creative Planning lifted its holdings in DHT by 34.1% during the second quarter. Creative Planning now owns 15,189 shares of the shipping company’s stock worth $164,000 after buying an additional 3,859 shares during the period. JPMorgan Chase & Co. lifted its holdings in DHT by 11.3% during the second quarter. JPMorgan Chase & Co. now owns 400,068 shares of the shipping company’s stock worth $4,325,000 after buying an additional 40,574 shares during the period. Finally, Prudential Financial Inc. bought a new stake in DHT during the 2nd quarter valued at $162,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

About DHT

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.