Sanctuary Advisors LLC Buys New Holdings in DHT Holdings, Inc. $DHT

Key Points

• Sanctuary Advisors LLC initiated a new position in DHT Holdings during the first quarter, buying 56,715 shares valued at about $1.04 million.
• DHT reported stronger-than-expected quarterly results, posting $0.64 EPS versus the $0.62 estimate and revenue of $157.2 million, up 134.9% from a year earlier.
• The company also raised its quarterly dividend to $0.64 per share, implying an annualized yield of about 13.9%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $19.33.

Sanctuary Advisors LLC bought a new position in DHT Holdings, Inc. (NYSE:DHT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 56,715 shares of the shipping company's stock, valued at approximately $1,036,000.

A number of other institutional investors have also recently bought and sold shares of the business. Marex Group plc increased its holdings in DHT by 5,860.2% in the 4th quarter. Marex Group plc now owns 1,084,752 shares of the shipping company's stock valued at $13,245,000 after buying an additional 1,066,552 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of DHT by 706.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company's stock valued at $11,650,000 after acquiring an additional 943,990 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of DHT during the 4th quarter valued at about $8,927,000. Acorn Financial Advisory Services Inc. ADV bought a new stake in DHT in the first quarter valued at about $13,123,000. Finally, Public Sector Pension Investment Board increased its stake in DHT by 447.5% in the fourth quarter. Public Sector Pension Investment Board now owns 744,601 shares of the shipping company's stock valued at $9,092,000 after acquiring an additional 608,601 shares during the period. Institutional investors and hedge funds own 58.53% of the company's stock.

DHT Trading Up 0.3%

Shares of DHT stock opened at $18.46 on Friday. The company has a market capitalization of $2.97 billion, a P/E ratio of 8.96 and a beta of -0.11. DHT Holdings, Inc. has a 12-month low of $10.69 and a 12-month high of $20.55. The company has a quick ratio of 1.62, a current ratio of 1.83 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $17.57 and a 200 day moving average price of $17.00.

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

DHT Increases Dividend

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

Analyst Upgrades and Downgrades

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

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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