DHT Holdings, Inc. (NYSE:DHT) Given Average Rating of “Moderate Buy” by Analysts

DHT Holdings, Inc. (NYSE:DHT) has received a consensus rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $19.3333.

Several equities analysts have weighed in on DHT shares. Weiss Ratings cut DHT from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 24th. Wall Street Zen upgraded DHT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th.

DHT Stock Performance

Shares of NYSE:DHT opened at $19.59 on Tuesday. DHT has a 12-month low of $10.83 and a 12-month high of $20.62. The company’s 50 day moving average price is $18.36 and its two-hundred day moving average price is $17.98. The firm has a market cap of $3.15 billion, a PE ratio of 6.66 and a beta of -0.11. The company has a quick ratio of 3.32, a current ratio of 3.64 and a debt-to-equity ratio of 0.29.

DHT (NYSE:DHT) last released its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.04. The company had revenue of $254.96 million during the quarter, compared to the consensus estimate 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 business earned $0.35 earnings per share.

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were paid a dividend of $1.22 per share. The ex-dividend date was Monday, August 17th. This is a positive change from DHT’s previous quarterly dividend of $0.64. This represents a $4.88 dividend on an annualized basis and a yield of 24.9%. DHT’s dividend payout ratio is currently 165.99%.

Insider Transactions at DHT

In related news, Director Jeremy Kramer sold 29,796 shares of DHT stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $18.65, for a total value of $555,695.40. Following the transaction, the director directly owned 71,332 shares of the company’s stock, valued at $1,330,341.80. This trade represents a 29.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Laila Cecilie Halvorsen sold 50,000 shares of DHT stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $20.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer directly owned 161,011 shares in the company, valued at $3,220,220. This trade represents a 23.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 528,803 shares of company stock worth $10,644,297.

Institutional Investors Weigh In On DHT

Large investors have recently modified their holdings of the business. California State Teachers Retirement System increased its stake in shares of DHT by 358.7% in the 2nd quarter. California State Teachers Retirement System now owns 33,589 shares of the shipping company’s stock valued at $555,000 after purchasing an additional 26,266 shares during the last quarter. Raiffeisen Bank International AG lifted its position in shares of DHT by 42.4% during the 2nd quarter. Raiffeisen Bank International AG now owns 110,031 shares of the shipping company’s stock worth $1,819,000 after buying an additional 32,765 shares during the last quarter. AXQ Capital LP acquired a new stake in DHT in the second quarter valued at about $641,000. Triumph Capital Management boosted its stake in DHT by 155.0% in the second quarter. Triumph Capital Management now owns 3,697 shares of the shipping company’s stock valued at $61,000 after buying an additional 2,247 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in DHT in the second quarter valued at about $299,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

DHT Company Profile

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.