DHT Holdings, Inc. (NYSE:DHT) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analyst sentiment is moderately bullish: Five brokerages rate DHT Holdings a “Moderate Buy,” with two buy ratings, one strong buy, and two holds. The average 12-month price target is $21, while BTIG raised its target to $28.
• Strong quarterly performance supported a higher dividend: DHT reported $1.22 in quarterly EPS and $254.96 million in revenue, exceeding estimates, with revenue up 174.8% year over year. Its quarterly dividend increased to $1.22 per share, implying a 20.9% annualized yield.
• Shares were trading at $23.36, near the upper end of their 52-week range, while insiders sold 583,803 shares worth approximately $11.8 million over the past 90 days. Institutional investors and hedge funds own 58.53% of the stock.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) has received an average rating of "Moderate Buy" from the five ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $21.00.

Several equities research analysts have recently weighed in on DHT shares. BTIG Research upped their target price on DHT from $23.00 to $28.00 and gave the stock a "buy" rating in a research report on Friday, September 18th. Weiss Ratings upgraded DHT from a "buy (b+)" rating to a "buy (a)" rating in a report on Thursday, October 8th.

Insider Transactions at DHT

In other DHT news, Director Erik Lind sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were 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 $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 is available through the SEC website. Also, Director Sophie Rossini sold 33,000 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $20.04, for a total transaction of $661,320.00. Following the completion of the sale, the director directly owned 78,543 shares of the company's stock, valued at $1,574,001.72. This trade represents 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 worth $11,843,097 over the last 90 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DHT. Caitong International Asset Management Co. Ltd boosted its position in DHT by 568.0% in 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 during the last quarter. Western Wealth Management LLC acquired a new stake in shares of DHT during the first quarter valued at about $46,000. 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 worth $61,000 after acquiring an additional 2,247 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of DHT during the second quarter worth about $83,000. Finally, PNC Financial Services Group Inc. increased its position in shares of DHT by 32.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,846 shares of the shipping company's stock worth $89,000 after acquiring an additional 1,175 shares during the last quarter. 58.53% of the stock is owned by institutional investors and hedge funds.

DHT Stock Up 1.4%

Shares of DHT stock opened at $23.36 on Wednesday. DHT has a twelve month low of $11.64 and a twelve month high of $26.91. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 7.94 and a beta of -0.03. The company has a current ratio of 3.64, a quick ratio of 3.32 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $21.72 and a 200 day moving average price of $19.23.

DHT (NYSE:DHT - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The shipping company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.18 by $0.04. The company had revenue of $254.96 million for the quarter, compared to analyst estimates of $247.17 million. DHT had a return on equity of 39.40% and a net margin of 65.52%. The firm's revenue was up 174.8% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share.

DHT Increases Dividend

The business also recently declared 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 is a boost from DHT's previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Monday, August 17th. This represents a $4.88 annualized dividend and a yield of 20.9%. DHT's dividend payout ratio is presently 165.99%.

DHT Company Profile

DHT Holdings, Inc NYSE: DHT is a maritime transportation company that owns and operates crude oil tankers. The company's fleet is primarily composed of very large crude carriers (VLCCs), which transport large volumes of crude oil between major production and refining markets worldwide.

DHT provides ocean transportation services to energy companies, commodity traders and other customers through voyage charters, time charters and other commercial arrangements. Its operations include the commercial, technical and safety management of its vessels, with activities serving international crude oil trade routes across the Atlantic, Pacific and other major maritime regions.

Founded in 2005, DHT is incorporated in the Marshall Islands and has corporate and operational activities based in Bermuda, Norway and Singapore.

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