DHT (NYSE:DHT) Stock Sees Heavy Call Option Buying

DHT Holdings, Inc. (NYSE:DHT) was the recipient of unusually large options trading on Thursday. Stock traders purchased 23,301 call options on the company. This represents an increase of approximately 161% compared to the typical volume of 8,911 call options.

Insider Activity

In other DHT news, insider Jon Eglin sold 50,000 shares of DHT stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $19.99, for a total value of $999,500.00. Following the sale, the insider owned 324,622 shares of the company’s stock, valued at $6,489,193.78. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Laila Halvorsen sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $20.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer owned 161,011 shares in the company, valued at approximately $3,220,220. This trade represents a 23.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 583,803 shares of company stock worth $11,843,097. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DHT

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its holdings in DHT by 568.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock worth $43,000 after buying an additional 3,022 shares during the last quarter. Western Wealth Management LLC acquired a new stake in DHT in the first quarter valued at $46,000. Leonteq Securities AG acquired a new stake in DHT in the fourth quarter valued at $59,000. Triumph Capital Management grew its position in shares of DHT by 155.0% in the 2nd quarter. Triumph Capital Management now owns 3,697 shares of the shipping company’s stock valued at $61,000 after acquiring an additional 2,247 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in shares of DHT in the 2nd quarter valued at about $83,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on DHT. Weiss Ratings upgraded DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, September 8th. BTIG Research lifted their price objective on shares of DHT from $23.00 to $28.00 and gave the company a “buy” rating in a report on Friday, September 18th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.00.

DHT Trading Up 1.7%

DHT stock opened at $21.64 on Friday. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 7.36 and a beta of -0.09. The firm has a 50-day moving average of $19.76 and a 200-day moving average of $18.48. 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 has a one year low of $10.83 and a one year high of $23.56.

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

DHT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were given a dividend of $1.22 per share. This is a positive change from DHT’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Monday, August 17th. This represents a $4.88 annualized dividend and a dividend yield of 22.6%. DHT’s payout ratio is presently 165.99%.

DHT Company Profile

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.