Svenn Magne Edvardsen Sells 341,007 Shares of DHT (NYSE:DHT) Stock

DHT Holdings, Inc. (NYSE:DHT) Director Svenn Magne Edvardsen sold 341,007 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $20.29, for a total transaction of $6,919,032.03. Following the completion of the sale, the director directly owned 395,705 shares of the company’s stock, valued at $8,028,854.45. The trade was a 46.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

DHT Stock Performance

Shares of DHT opened at $19.74 on Monday. The stock has a 50 day moving average of $18.30 and a 200 day moving average of $17.78. The company has a current ratio of 3.64, a quick ratio of 3.32 and a debt-to-equity ratio of 0.29. DHT Holdings, Inc. has a 12 month low of $10.83 and a 12 month high of $20.62. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 6.71 and a beta of -0.11.

DHT (NYSE:DHT) last released its 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. The company had revenue of $254.96 million for the quarter, compared to analysts’ expectations of $247.17 million. DHT had a return on equity of 39.40% and a net margin of 65.52%.The business’s revenue for the quarter was up 174.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 EPS.

DHT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be given 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 yield of 24.7%. The ex-dividend date of this dividend is Monday, August 17th. DHT’s payout ratio is presently 165.99%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DHT. Wall Street Zen upgraded shares of DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, August 7th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, DHT has an average rating of “Moderate Buy” and a consensus price target of $19.33.

Institutional Investors Weigh In On DHT

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in shares of 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 purchasing an additional 1,596 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in DHT by 568.0% during 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 DHT during the 1st quarter worth about $46,000. Leonteq Securities AG bought a new position in DHT in the 4th quarter worth about $59,000. Finally, Sunbelt Securities Inc. bought a new position in DHT in the 3rd quarter worth about $60,000. Institutional investors 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.