DHT (NYSE:DHT) Director Sells 29,796 Shares

DHT Holdings, Inc. (NYSE:DHT) Director Jeremy Kramer sold 29,796 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $18.65, for a total transaction of $555,695.40. Following the sale, the director owned 71,332 shares of the company’s stock, valued at $1,330,341.80. This trade represents a 29.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

DHT Stock Performance

DHT traded down $0.44 during midday trading on Tuesday, reaching $17.89. The company had a trading volume of 1,067,966 shares, compared to its average volume of 3,731,019. DHT Holdings, Inc. has a 12-month low of $10.69 and a 12-month high of $20.55. The business has a 50-day moving average price of $17.82 and a two-hundred day moving average price of $17.44. The stock has a market cap of $2.88 billion, a PE ratio of 6.09 and a beta of -0.11. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.32 and a current ratio of 3.64.

DHT (NYSE:DHT) last posted its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $247.17 million. During the same quarter in the previous year, the firm posted $0.35 EPS. DHT’s revenue was up 174.8% on a year-over-year basis.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be paid a $1.22 dividend. The ex-dividend date is Monday, August 17th. 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 27.3%. DHT’s dividend payout ratio is presently 87.07%.

Analyst Ratings Changes

Several brokerages recently weighed in on DHT. Evercore lowered DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective for the company. in a report on Wednesday, April 22nd. BTIG Research boosted their price target on shares of DHT from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Wall Street Zen upgraded shares of DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings upgraded shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday. Three investment 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, DHT has an average rating of “Moderate Buy” and a consensus target price of $19.33.

Institutional Investors Weigh In On DHT

A number of institutional investors and hedge funds have recently modified their holdings of DHT. Redhawk Wealth Advisors Inc. increased its holdings in DHT by 117.9% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 25,394 shares of the shipping company’s stock worth $420,000 after acquiring an additional 13,738 shares during the period. Baron Wealth Management LLC boosted its stake in DHT by 7.4% during the second quarter. Baron Wealth Management LLC now owns 15,843 shares of the shipping company’s stock valued at $262,000 after buying an additional 1,093 shares during the period. Rathbones Group PLC grew its position in DHT by 53.7% during the first quarter. Rathbones Group PLC now owns 15,750 shares of the shipping company’s stock worth $288,000 after buying an additional 5,500 shares in the last quarter. Norris Financial Group LLC purchased a new stake in shares of DHT in the 1st quarter valued at about $316,000. Finally, Western Wealth Management LLC bought a new stake in shares of DHT during the 1st quarter valued at about $46,000. 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.