DHT (NYSE:DHT) Insider Sells $999,500.00 in Stock

DHT Holdings, Inc. (NYSE:DHT) insider Jon Stephen Eglin sold 50,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $19.99, for a total value of $999,500.00. Following the completion of the sale, the insider directly owned 324,622 shares of the company’s stock, valued at approximately $6,489,193.78. This represents a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

DHT Stock Performance

NYSE DHT opened at $19.74 on Monday. 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 stock’s fifty day moving average is $18.30 and its two-hundred day moving average is $17.78. The firm has a market capitalization of $3.18 billion, a P/E ratio of 6.71 and a beta of -0.11. DHT Holdings, Inc. has a fifty-two week low of $10.83 and a fifty-two week high of $20.62.

DHT (NYSE:DHT) last issued its earnings results on Wednesday, August 5th. The shipping company reported $1.22 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $247.17 million. During the same period last year, the company earned $0.35 EPS. The company’s revenue for the quarter was up 174.8% on a year-over-year basis.

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be issued a $1.22 dividend. This is an increase from DHT’s previous quarterly dividend of $0.64. This represents a $4.88 dividend on an annualized basis and a dividend yield of 24.7%. The ex-dividend date of this dividend is Monday, August 17th. DHT’s payout ratio is currently 165.99%.

Institutional Investors Weigh In On DHT

Institutional investors have recently modified their holdings of the company. Baron Wealth Management LLC increased its stake in shares of DHT by 4.2% during the first quarter. Baron Wealth Management LLC now owns 14,750 shares of the shipping company’s stock worth $269,000 after buying an additional 592 shares during the period. MetLife Investment Management LLC raised its holdings in DHT by 1.4% in the fourth quarter. MetLife Investment Management LLC now owns 72,883 shares of the shipping company’s stock valued at $890,000 after acquiring an additional 994 shares in the last quarter. Harbour Investments Inc. lifted its stake in DHT by 16.0% in the fourth quarter. Harbour Investments Inc. now owns 7,237 shares of the shipping company’s stock worth $88,000 after acquiring an additional 1,000 shares during the last quarter. Summit Financial LLC lifted its stake in DHT by 0.9% in the fourth quarter. Summit Financial LLC now owns 119,438 shares of the shipping company’s stock worth $1,458,000 after acquiring an additional 1,111 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in DHT by 0.6% during the 2nd quarter. First Trust Advisors LP now owns 177,393 shares of the shipping company’s stock worth $1,918,000 after acquiring an additional 1,114 shares in the last quarter. 58.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on DHT. Weiss Ratings raised shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, August 7th. Wall Street Zen raised shares of DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, DHT has an average rating of “Moderate Buy” and an average target price of $19.33.

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.