DHT Holdings, Inc. (NYSE:DHT) Stock Has Average Price Target of $21.00 According to Analysts

Key Points

• Analyst outlook is moderately bullish: Five analysts give DHT Holdings a consensus “Moderate Buy” rating, with an average 12-month price target of $21.00. BTIG Research recently raised its target to $28 from $23 and reiterated a buy rating.
• Strong quarterly performance: DHT reported earnings of $1.22 per share, exceeding estimates of $1.18, while revenue rose 174.8% year over year to $254.96 million.
• Dividend increased substantially: The company paid a quarterly dividend of $1.22 per share, equivalent to an annualized $4.88 and a 22.4% yield, though its payout ratio stood at 165.99%.

Shares of DHT Holdings, Inc. (NYSE:DHT - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $21.00.

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 report on Tuesday, September 8th. BTIG Research increased their price target on DHT from $23.00 to $28.00 and gave the company a "buy" rating in a report on Friday, September 18th.

DHT Stock Performance

Shares of NYSE DHT opened at $21.80 on Friday. The firm's 50-day moving average price is $19.85 and its 200-day moving average price is $18.50. 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 company has a market cap of $3.51 billion, a PE ratio of 7.41 and a beta of -0.09. DHT has a 52-week low of $10.83 and a 52-week high of $23.56.

DHT (NYSE:DHT - Get Free Report) last released 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. The firm had revenue of $254.96 million during the quarter, compared to analysts' expectations of $247.17 million. DHT had a net margin of 65.52% and a return on equity of 39.40%. The firm's quarterly revenue was up 174.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 earnings per share.

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 22.4%. This is a boost from DHT's previous quarterly dividend of $0.64. The ex-dividend date was Monday, August 17th. DHT's dividend payout ratio (DPR) is currently 165.99%.

Insider Buying and Selling

In other DHT news, Director Svenn Edvardsen sold 341,007 shares of the business'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 in the company, valued at $8,028,854.45. The trade was a 46.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the director directly owned 78,543 shares of the company's stock, valued at $1,574,001.72. The trade was a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 583,803 shares of company stock valued at $11,843,097 in the last 90 days. Insiders own 1.60% of the company's stock.

Institutional Trading of DHT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DHT. Caitong International Asset Management Co. Ltd lifted its position in shares of 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 valued at $43,000 after buying an additional 3,022 shares in the last quarter. Western Wealth Management LLC purchased a new stake in DHT in the 1st quarter worth approximately $46,000. Triumph Capital Management increased its holdings in DHT by 155.0% in the 2nd quarter. Triumph Capital Management now owns 3,697 shares of the shipping company's stock worth $61,000 after acquiring an additional 2,247 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in DHT during the 2nd quarter worth approximately $83,000. Finally, Harbour Investments Inc. raised its stake in 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 acquiring an additional 1,000 shares during the period. 58.53% of the stock is owned by hedge funds and other institutional investors.

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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