WIT Partners Advisory Pte. Ltd. Acquires New Shares in DHT Holdings, Inc. $DHT

Key Points

• WIT Partners Advisory Pte. Ltd. opened a new position in DHT Holdings during Q1, buying 282,600 shares worth about $5.16 million. The stake represents about 1.5% of its portfolio and 0.18% of DHT.
• DHT reported better-than-expected quarterly results, with EPS of $0.64 versus the $0.62 estimate and revenue of $157.2 million versus $152.15 million expected. Revenue jumped 134.9% year over year.
• The company also raised its quarterly dividend to $0.64 from $0.41, implying an annualized dividend of $2.56 and a 14.3% yield. Analyst sentiment remains mixed but constructive, with a consensus rating of Moderate Buy and a target price of $19.33.

WIT Partners Advisory Pte. Ltd. acquired a new position in shares of DHT Holdings, Inc. (NYSE:DHT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 282,600 shares of the shipping company's stock, valued at approximately $5,163,000. DHT comprises approximately 1.5% of WIT Partners Advisory Pte. Ltd.'s portfolio, making the stock its 7th largest holding. WIT Partners Advisory Pte. Ltd. owned about 0.18% of DHT at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DHT. EverSource Wealth Advisors LLC boosted its stake in shares of DHT by 91.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company's stock valued at $36,000 after purchasing an additional 1,596 shares in the last quarter. Caitong International Asset Management Co. Ltd increased 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 valued at $43,000 after buying an additional 3,022 shares during the period. Sound Income Strategies LLC acquired a new position in shares of DHT in the fourth quarter valued at approximately $58,000. Leonteq Securities AG bought a new position in DHT in the 4th quarter valued at approximately $59,000. Finally, Sunbelt Securities Inc. bought a new position in DHT in the 3rd quarter valued at approximately $60,000. Institutional investors and hedge funds own 58.53% of the company's stock.

DHT Trading Down 0.8%

Shares of DHT stock opened at $17.87 on Friday. DHT Holdings, Inc. has a 1-year low of $10.61 and a 1-year high of $20.55. The company has a current ratio of 1.83, a quick ratio of 1.62 and a debt-to-equity ratio of 0.33. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 8.67 and a beta of -0.11. The stock has a 50-day moving average of $17.59 and a 200-day moving average of $16.78.

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

DHT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were given a $0.64 dividend. This is an increase from DHT's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, May 21st. This represents a $2.56 dividend on an annualized basis and a dividend yield of 14.3%. DHT's dividend payout ratio is presently 124.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DHT shares. BTIG Research boosted their target price on shares of DHT from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Wall Street Zen raised shares of DHT from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Evercore downgraded shares of 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. Finally, Weiss Ratings upgraded shares of DHT from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, June 23rd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.33.

DHT 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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