Insider Selling: DHT (NYSE:DHT) Director Sells 29,796 Shares

Key Points

• DHT director Jeremy Kramer sold 29,796 shares at an average price of $18.65, generating approximately $555,695 and reducing his direct holdings by 29.46% to 71,332 shares.
• DHT reported quarterly EPS of $1.22, exceeding estimates by $0.04, while revenue rose 174.8% year over year to $254.96 million. The company also increased its quarterly dividend to $1.22 per share, implying a 27.3% annualized yield.
• The stock recently traded at $17.89, down 2.4%, while analysts maintained an overall “Moderate Buy” rating with an average price target of $19.33.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) Director Jeremy Kramer sold 29,796 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $18.65, for a total value of $555,695.40. Following the completion of the transaction, the director directly owned 71,332 shares of the company's stock, valued at $1,330,341.80. This represents a 29.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

DHT Trading Down 2.4%

NYSE:DHT traded down $0.44 during mid-day trading on Tuesday, hitting $17.89. 1,067,966 shares of the company's stock were exchanged, compared to its average volume of 3,731,019. The company has a current ratio of 3.64, a quick ratio of 3.32 and a debt-to-equity ratio of 0.29. DHT Holdings, Inc. has a fifty-two week low of $10.69 and a fifty-two week high of $20.55. The company has a 50 day simple moving average of $17.82 and a 200-day simple moving average of $17.44. The firm has a market capitalization of $2.88 billion, a P/E ratio of 6.09 and a beta of -0.11.

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

DHT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be given a dividend of $1.22 per share. This is a boost from DHT's previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Monday, August 17th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 27.3%. DHT's payout ratio is currently 87.07%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On DHT

A number of hedge funds have recently bought and sold shares of DHT. Arrowstreet Capital Limited Partnership lifted its position in shares of DHT by 74.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company's stock valued at $78,849,000 after purchasing an additional 1,836,892 shares in the last quarter. Marex Group plc lifted its position in shares of DHT by 5,860.2% during the 4th quarter. Marex Group plc now owns 1,084,752 shares of the shipping company's stock worth $13,245,000 after buying an additional 1,066,552 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of DHT by 1,072.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,162,300 shares of the shipping company's stock worth $21,235,000 after buying an additional 1,063,134 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of DHT by 706.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company's stock worth $11,650,000 after buying an additional 943,990 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of DHT by 168.3% in the first quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company's stock valued at $21,674,000 after acquiring an additional 744,130 shares in the last quarter. 58.53% of the stock is owned by hedge funds and other institutional investors.

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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