DHT (NYSE:DHT) Reaches New 12-Month High – Time to Buy?

Shares of DHT Holdings, Inc. (NYSE:DHT) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $21.29 and last traded at $21.1670, with a volume of 2746026 shares. The stock had previously closed at $20.82.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded DHT from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.33.

DHT Stock Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.32 and a current ratio of 3.64. The company has a market cap of $3.41 billion, a PE ratio of 7.20 and a beta of -0.09. The business’s 50-day moving average is $18.74 and its 200 day moving average is $18.20.

DHT (NYSE:DHT) last announced its quarterly earnings data 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 firm had revenue of $254.96 million for the quarter, compared to analysts’ expectations of $247.17 million. During the same period last year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter was up 174.8% compared to the same quarter last year.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were issued a $1.22 dividend. This is a positive change from DHT’s previous quarterly dividend of $0.64. This represents a $4.88 annualized dividend and a dividend yield of 23.1%. The ex-dividend date was Monday, August 17th. DHT’s dividend payout ratio (DPR) is 165.99%.

Insider Buying and Selling at DHT

In other news, Director Svenn Edvardsen sold 341,007 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $20.29, for a total transaction of $6,919,032.03. Following the completion of the transaction, the director directly owned 395,705 shares of the company’s stock, valued at approximately $8,028,854.45. This represents a 46.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction, the chief financial officer owned 161,011 shares in the company, valued at approximately $3,220,220. This represents a 23.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 553,803 shares of company stock worth $11,169,297 over the last ninety days. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On DHT

Several hedge funds have recently made changes to their positions in DHT. EverSource Wealth Advisors LLC boosted its holdings in DHT by 91.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock valued at $36,000 after acquiring an additional 1,596 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in DHT by 568.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock worth $43,000 after purchasing an additional 3,022 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of DHT in the 1st quarter worth about $46,000. Leonteq Securities AG purchased a new stake in shares of DHT in the 4th quarter worth about $59,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of DHT during the 3rd quarter valued at about $60,000. 58.53% of the stock is owned by hedge funds and other institutional investors.

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.