DHT (NYSE:DHT) Hits New 52-Week High – Time to Buy?

Shares of DHT Holdings, Inc. (NYSE:DHT) reached a new 52-week high during trading on Tuesday . The company traded as high as $23.56 and last traded at $22.42, with a volume of 4426978 shares traded. The stock had previously closed at $23.27.

Wall Street Analysts Forecast Growth

DHT has been the subject of a number of research analyst reports. Weiss Ratings raised shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, September 8th. BTIG Research raised their price objective on shares of DHT from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Three research analysts have rated the stock with a Buy rating and two have assigned 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 $21.00.

DHT Trading Down 0.5%

The company has a quick ratio of 3.32, a current ratio of 3.64 and a debt-to-equity ratio of 0.29. The firm’s 50-day simple moving average is $19.69 and its 200 day simple moving average is $18.45. The stock has a market capitalization of $3.43 billion, a P/E ratio of 7.24 and a beta of -0.09.

DHT (NYSE:DHT) last posted its quarterly earnings data on Wednesday, August 5th. The shipping company reported $1.22 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $247.17 million. During the same quarter last year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 174.8% on a year-over-year basis.

DHT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were issued 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 22.9%. DHT’s payout ratio is 165.99%.

Insider Transactions at DHT

In other DHT news, Director Erik Lind sold 30,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $22.46, for a total value of $673,800.00. Following the transaction, the director owned 132,294 shares of the company’s stock, valued at approximately $2,971,323.24. This represents a 18.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Laila Halvorsen sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $20.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer directly owned 161,011 shares of the company’s stock, valued at approximately $3,220,220. This represents a 23.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 583,803 shares of company stock valued at $11,843,097 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DHT

A number of institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership boosted its holdings in shares of DHT by 74.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company’s stock worth $78,849,000 after buying an additional 1,836,892 shares during the period. Bank of America Corp DE boosted its stake in DHT by 168.3% in the 1st quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company’s stock worth $21,674,000 after purchasing an additional 744,130 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in DHT by 1,072.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,162,300 shares of the shipping company’s stock worth $21,235,000 after purchasing an additional 1,063,134 shares in the last quarter. Empowered Funds LLC raised its stake in DHT by 6.0% during the 1st quarter. Empowered Funds LLC now owns 773,163 shares of the shipping company’s stock valued at $14,126,000 after purchasing an additional 43,514 shares during the period. Finally, Acorn Financial Advisory Services Inc. ADV acquired a new stake in DHT during the 1st quarter valued at $13,123,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

About DHT

DHT Holdings, Inc (NYSE: DHT) is a maritime transportation company that owns and operates crude oil tankers. Its fleet is primarily composed of very large crude carriers (VLCCs), which transport crude oil in international seaborne trade.

The company provides tanker transportation services to energy companies, commodity traders and other customers through a combination of voyage charters, time charters and related commercial arrangements. Its vessels serve major global crude oil trade routes linking oil-producing regions with refineries and consuming markets.

DHT was established in 2005 and is headquartered in Hamilton, Bermuda, with operations and commercial activities supported through international offices.