DHT Sees Unusually Large Options Volume (NYSE:DHT)

DHT Holdings, Inc. (NYSE:DHT) was the target of unusually large options trading activity on Friday. Traders purchased 60,120 call options on the stock. This represents an increase of 1,058% compared to the typical daily volume of 5,192 call options.

DHT Stock Performance

NYSE DHT opened at $19.50 on Friday. The company has a fifty day moving average of $18.02 and a 200-day moving average of $17.56. 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 capitalization of $3.14 billion, a P/E ratio of 6.63 and a beta of -0.11. DHT has a 52-week low of $10.69 and a 52-week high of $20.55.

DHT (NYSE:DHT) last released its earnings results on Wednesday, August 5th. The shipping company reported $1.22 earnings per share 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 firm had revenue of $254.96 million for the quarter, compared to the consensus estimate of $247.17 million. During the same period in the prior year, the firm earned $0.35 EPS. The company’s revenue was up 174.8% compared to the same quarter last year.

DHT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, August 17th. 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 25.0%. DHT’s dividend payout ratio is currently 87.07%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DHT shares. BTIG Research increased their price objective on DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Evercore cut DHT from an “outperform” rating to an “in-line” rating and set a $19.00 target price for the company. in a research report on Wednesday, April 22nd. Wall Street Zen upgraded DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, August 7th. 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.33.

Insider Buying and Selling

In other DHT news, Director Jeremy Kramer sold 29,796 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $18.65, for a total value of $555,695.40. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DHT

Large investors have recently bought and sold shares of the business. Globeflex Capital L P bought a new position in DHT during the 2nd quarter valued at about $475,000. Redhawk Wealth Advisors Inc. grew its stake in shares of DHT by 117.9% in the second 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 grew its stake in shares of DHT by 7.4% in the second quarter. Baron Wealth Management LLC now owns 15,843 shares of the shipping company’s stock worth $262,000 after acquiring an additional 1,093 shares during the period. Rathbones Group PLC raised its holdings in shares of DHT by 53.7% during the first quarter. Rathbones Group PLC now owns 15,750 shares of the shipping company’s stock valued at $288,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Norris Financial Group LLC purchased a new stake in DHT in the first quarter worth approximately $316,000. 58.53% of the stock is currently owned by institutional investors.

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.