DHT (NYSE:DHT) Insider Sells 25,000 Shares of Stock

Key Points

• DHT insider Jon Eglin sold 25,000 shares at an average price of $21, generating $525,000 and reducing his ownership by 8.34% to 274,622 shares. He had also sold 75,000 shares in two transactions during August.
• DHT shares traded near their 52-week high at $20.79, while the company reported quarterly EPS of $1.22 and revenue of $254.96 million, exceeding analyst estimates. Revenue increased 174.8% year over year.
• The company raised its quarterly dividend to $1.22, implying an annualized dividend of $4.88 and a 23.5% yield, although its payout ratio stood at 165.99%. Analysts maintained a “Moderate Buy” consensus with an average price target of $19.33.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) insider Jon Eglin sold 25,000 shares of DHT stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $21.00, for a total value of $525,000.00. Following the sale, the insider owned 274,622 shares in the company, valued at $5,767,062. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Jon Stephen Eglin also recently made the following trade(s):

• On Friday, August 21st, Jon Eglin sold 25,000 shares of DHT stock. The shares were sold at an average price of $20.35, for a total value of $508,750.00.
• On Wednesday, August 19th, Jon Eglin sold 50,000 shares of DHT stock. The shares were sold at an average price of $19.99, for a total transaction of $999,500.00.

DHT Stock Performance

Shares of NYSE DHT traded down $0.09 during midday trading on Tuesday, hitting $20.79. The company's stock had a trading volume of 884,818 shares, compared to its average volume of 3,697,755. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.32 and a current ratio of 3.64. DHT Holdings, Inc. has a 1-year low of $10.83 and a 1-year high of $21.15. The firm's fifty day moving average price is $18.56 and its 200-day moving average price is $18.15. The firm has a market cap of $3.35 billion, a P/E ratio of 7.06 and a beta of -0.09.

DHT (NYSE:DHT - Get Free Report) last issued its earnings results on Wednesday, August 5th. The shipping company reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.04. The firm had revenue of $254.96 million for the quarter, compared to analysts' expectations of $247.17 million. DHT had a net margin of 65.52% and a return on equity of 39.40%. DHT's revenue was up 174.8% on a year-over-year basis. During the same quarter last year, the company posted $0.35 earnings per share.

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were given a $1.22 dividend. The ex-dividend date was Monday, August 17th. This represents a $4.88 annualized dividend and a yield of 23.5%. This is a boost from DHT's previous quarterly dividend of $0.64. DHT's payout ratio is 165.99%.

Institutional Investors Weigh In On DHT

Several institutional investors have recently bought and sold shares of DHT. California State Teachers Retirement System grew its position in DHT by 358.7% in the 2nd quarter. California State Teachers Retirement System now owns 33,589 shares of the shipping company's stock valued at $555,000 after buying an additional 26,266 shares in the last quarter. Raiffeisen Bank International AG raised its position in shares of DHT by 42.4% during the 2nd quarter. Raiffeisen Bank International AG now owns 110,031 shares of the shipping company's stock worth $1,819,000 after buying an additional 32,765 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of DHT in the 2nd quarter worth approximately $641,000. Triumph Capital Management boosted its holdings 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 valued at $61,000 after acquiring an additional 2,247 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of DHT in the second quarter valued at approximately $299,000. Institutional investors and hedge funds own 58.53% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered DHT from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, August 24th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $19.33.

About DHT

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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