DHT (NYSE:DHT) Price Target Raised to $28.00

Key Points

• BTIG Research raised DHT’s price target to $28 from $23 and maintained a “buy” rating, implying 22.8% upside from the prior close. The stock has a consensus rating of “Moderate Buy,” with an average price target of $21.
• DHT reported strong quarterly results, posting $1.22 in EPS versus the $1.18 estimate and $254.96 million in revenue versus $247.17 million expected. Revenue increased 174.8% year over year, while net margin reached 65.52%.
• Insiders sold a combined 583,803 shares worth $11.84 million over the past quarter, while institutional investors own 58.53% of the company.

DHT (NYSE:DHT - Get Free Report) had its target price boosted by equities research analysts at BTIG Research from $23.00 to $28.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the shipping company's stock. BTIG Research's target price indicates a potential upside of 22.80% from the company's previous close.

Separately, Weiss Ratings raised shares of DHT from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, September 8th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, DHT has an average rating of "Moderate Buy" and a consensus price target of $21.00.

DHT Stock Down 1.0%

NYSE:DHT opened at $22.80 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.64 and a quick ratio of 3.32. DHT has a 1-year low of $10.83 and a 1-year high of $23.46. The company has a 50-day moving average of $19.34 and a 200 day moving average of $18.36. The firm has a market cap of $3.67 billion, a PE ratio of 7.76 and a beta of -0.09.

DHT (NYSE:DHT - Get Free Report) last posted its earnings results on Wednesday, August 5th. The shipping company reported $1.22 EPS for the quarter, beating 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 business had revenue of $254.96 million for the quarter, compared to the consensus estimate of $247.17 million. During the same quarter last year, the firm posted $0.35 EPS. The company's revenue for the quarter was up 174.8% on a year-over-year basis.

Insider Activity

In other DHT news, Director Erik Lind sold 30,000 shares of the firm's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $22.46, for a total value of $673,800.00. Following the completion of the sale, the director owned 132,294 shares of the company's stock, valued at approximately $2,971,323.24. This trade represents a 18.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sophie Rossini sold 33,000 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $20.04, for a total transaction of $661,320.00. Following the transaction, the director owned 78,543 shares in the company, valued at approximately $1,574,001.72. This trade represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 583,803 shares of company stock worth $11,843,097 over the last quarter. Company insiders own 1.60% of the company's stock.

Institutional Trading of DHT

Several large investors have recently bought and sold shares of DHT. Baron Wealth Management LLC increased its holdings in shares of DHT by 4.2% during the 1st 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 last quarter. Harbour Investments Inc. increased its position in shares of DHT by 16.0% during the 4th quarter. Harbour Investments Inc. now owns 7,237 shares of the shipping company's stock worth $88,000 after purchasing an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of DHT by 32.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,846 shares of the shipping company's stock worth $89,000 after purchasing an additional 1,175 shares during the last quarter. Savant Capital LLC lifted its position in DHT by 7.6% in the fourth quarter. Savant Capital LLC now owns 19,083 shares of the shipping company's stock valued at $233,000 after buying an additional 1,345 shares during the last quarter. Finally, Triumph Capital Management increased its position in shares of DHT by 155.0% during the second quarter. Triumph Capital Management now owns 3,697 shares of the shipping company's stock valued at $61,000 after acquiring an additional 2,247 shares during the last quarter. 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.

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