DHT Holdings, Inc. $DHT Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its DHT Holdings stake by 168.3% in the first quarter, acquiring 744,130 additional shares to own 1.19 million shares valued at approximately $21.7 million. Institutional investors collectively own 58.53% of DHT.
• DHT reported strong quarterly results, with EPS of $1.22 beating estimates and revenue rising 174.8% year over year to $254.96 million. Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $19.33.
• DHT raised its quarterly dividend to $1.22 per share, implying an annualized dividend of $4.88 and a 25.3% yield, although its payout ratio is elevated at 165.99%.

Bank of America Corp DE boosted its stake in DHT Holdings, Inc. (NYSE:DHT - Free Report) by 168.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,186,289 shares of the shipping company's stock after acquiring an additional 744,130 shares during the quarter. Bank of America Corp DE owned about 0.74% of DHT worth $21,674,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in DHT by 178.9% in the 1st quarter. AQR Capital Management LLC now owns 70,582 shares of the shipping company's stock valued at $741,000 after buying an additional 45,275 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in DHT during the 2nd quarter valued at approximately $171,000. Creative Planning grew its stake in DHT by 34.1% during the 2nd quarter. Creative Planning now owns 15,189 shares of the shipping company's stock valued at $164,000 after purchasing an additional 3,859 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in DHT by 11.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 400,068 shares of the shipping company's stock worth $4,325,000 after purchasing an additional 40,574 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in DHT during the 2nd quarter worth approximately $162,000. Institutional investors and hedge funds own 58.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DHT. Evercore lowered shares of DHT from an "outperform" rating to an "in-line" rating and set a $19.00 price objective for the company. in a report on Wednesday, April 22nd. Wall Street Zen upgraded shares of DHT from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of DHT from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, August 7th. Finally, BTIG Research lifted their price target on DHT from $18.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, DHT has an average rating of "Moderate Buy" and an average target price of $19.33.

DHT Stock Performance

Shares of NYSE DHT opened at $19.33 on Wednesday. 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 firm's 50-day moving average price is $18.12 and its two-hundred day moving average price is $17.66. DHT Holdings, Inc. has a 52-week low of $10.69 and a 52-week high of $20.55. The stock has a market capitalization of $3.11 billion, a P/E ratio of 6.57 and a beta of -0.11.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.04. DHT had a return on equity of 39.40% and a net margin of 65.52%.The business had revenue of $254.96 million during the quarter, compared to analyst estimates of $247.17 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The business's revenue for the quarter was up 174.8% compared to the same quarter last year.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 25.3%. The ex-dividend date of this dividend is Monday, August 17th. This is a positive change from DHT's previous quarterly dividend of $0.64. DHT's dividend payout ratio (DPR) is presently 165.99%.

Insider Buying and Selling

In related news, Director Jeremy Kramer sold 29,796 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $18.65, for a total value of $555,695.40. Following the sale, the director directly owned 71,332 shares in the company, valued at $1,330,341.80. This trade represents a 29.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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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