Arrowstreet Capital Limited Partnership Acquires 1,836,892 Shares of DHT Holdings, Inc. $DHT

Key Points

• Arrowstreet Capital increased its DHT Holdings stake by 74.1%, acquiring 1.84 million additional shares for a total position of 4.32 million shares, worth approximately $78.8 million. Institutional investors and hedge funds now own 58.53% of DHT.
• DHT reported strong quarterly results, with EPS of $0.64 beating estimates and revenue rising 134.9% year over year to $157.2 million. The company also increased its quarterly dividend to $0.64 per share, implying a 13.9% annualized yield.
• Analyst sentiment remains favorable but mixed: DHT has a consensus rating of “Moderate Buy” and an average price target of $19.33, while recent targets ranged from Evercore’s $19 to BTIG’s $23.

Arrowstreet Capital Limited Partnership lifted its holdings in shares of DHT Holdings, Inc. (NYSE:DHT - Free Report) by 74.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,315,767 shares of the shipping company's stock after acquiring an additional 1,836,892 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 2.68% of DHT worth $78,849,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DHT. Marex Group plc increased its holdings in shares of DHT by 5,860.2% in the fourth quarter. Marex Group plc now owns 1,084,752 shares of the shipping company's stock valued at $13,245,000 after purchasing an additional 1,066,552 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of DHT by 706.0% during the second quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company's stock worth $11,650,000 after acquiring an additional 943,990 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of DHT in the fourth quarter valued at approximately $8,927,000. Acorn Financial Advisory Services Inc. ADV bought a new position in shares of DHT during the first quarter worth approximately $13,123,000. Finally, Public Sector Pension Investment Board increased its stake in shares of DHT by 447.5% during the fourth quarter. Public Sector Pension Investment Board now owns 744,601 shares of the shipping company's stock worth $9,092,000 after purchasing an additional 608,601 shares during the period. 58.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Evercore downgraded DHT from an "outperform" rating to an "in-line" rating and set a $19.00 price target for the company. in a research note on Wednesday, April 22nd. Weiss Ratings cut DHT from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday. BTIG Research lifted their target price on DHT from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen raised DHT from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, DHT presently has an average rating of "Moderate Buy" and a consensus price target of $19.33.

DHT Trading Up 0.1%

Shares of NYSE:DHT opened at $18.46 on Monday. The business's 50 day simple moving average is $17.57 and its 200 day simple moving average is $17.04. DHT Holdings, Inc. has a 1 year low of $10.69 and a 1 year high of $20.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 1.62. The company has a market capitalization of $2.97 billion, a P/E ratio of 8.96 and a beta of -0.11.

DHT (NYSE:DHT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The shipping company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. DHT had a return on equity of 27.54% and a net margin of 58.54%.The firm had revenue of $157.20 million during the quarter, compared to analysts' expectations of $152.15 million. During the same period in the previous year, the firm earned $0.27 EPS. The company's quarterly revenue was up 134.9% compared to the same quarter last year.

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.64 per share. The ex-dividend date was Thursday, May 21st. This is a positive change from DHT's previous quarterly dividend of $0.41. This represents a $2.56 dividend on an annualized basis and a yield of 13.9%. DHT's dividend payout ratio is currently 124.27%.

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.

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