DHT Holdings, Inc. $DHT Shares Sold by Hosking Partners LLP

Key Points

• Hosking Partners reduced its DHT stake by 10%, selling 310,655 shares and retaining 2.81 million shares worth approximately $63.4 million. Institutional investors collectively own 58.53% of the company.
• DHT reported strong quarterly results, with EPS of $1.22 beating estimates and revenue rising 174.8% year over year to $254.96 million. The company also raised its quarterly dividend to $1.22 per share, representing a 20.2% annualized yield.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $21.00, although company insiders sold roughly $11.8 million of shares during the quarter.

Hosking Partners LLP decreased its stake in shares of DHT Holdings, Inc. (NYSE:DHT - Free Report) by 10.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,807,780 shares of the shipping company's stock after selling 310,655 shares during the period. DHT accounts for about 2.2% of Hosking Partners LLP's holdings, making the stock its 9th largest position. Hosking Partners LLP owned about 1.74% of DHT worth $63,372,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Western Wealth Management LLC acquired a new position in DHT during the first quarter valued at approximately $46,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of DHT by 568.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company's stock worth $43,000 after buying an additional 3,022 shares during the last quarter. Triumph Capital Management lifted its stake in shares of DHT by 155.0% in the second quarter. Triumph Capital Management now owns 3,697 shares of the shipping company's stock worth $61,000 after buying an additional 2,247 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of DHT by 32.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,846 shares of the shipping company's stock worth $89,000 after buying an additional 1,175 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of DHT during the 2nd quarter worth $83,000. 58.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on DHT shares. BTIG Research boosted their target price on shares of 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 shares of DHT from a "buy (b+)" rating to a "buy (a)" rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $21.00.

DHT Stock Performance

Shares of NYSE DHT opened at $24.17 on Thursday. 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 business's 50 day moving average is $21.83 and its two-hundred day moving average is $19.27. The company has a market cap of $3.89 billion, a P/E ratio of 8.22 and a beta of -0.03. DHT Holdings, Inc. has a 12 month low of $11.64 and a 12 month high of $26.91.

DHT (NYSE:DHT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.04. The company had revenue of $254.96 million during 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 company's quarterly revenue was up 174.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share.

DHT Increases Dividend

The business also recently announced 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 20.2%. This is an increase from DHT's previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Monday, August 17th. DHT's payout ratio is presently 165.99%.

Insider Activity

In related news, Director Svenn Edvardsen sold 341,007 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $20.29, for a total transaction of $6,919,032.03. Following the completion of the transaction, the director directly owned 395,705 shares in the company, valued at $8,028,854.45. This represents a 46.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Eglin sold 50,000 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $19.99, for a total transaction of $999,500.00. Following the completion of the sale, the insider directly owned 324,622 shares of the company's stock, valued at approximately $6,489,193.78. This trade represents a 13.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 583,803 shares of company stock worth $11,843,097. Corporate insiders own 1.60% of the company's stock.

About DHT

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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