Laila Cecilie Halvorsen Sells 50,000 Shares of DHT (NYSE:DHT) Stock

Key Points

• CFO Laila Cecilie Halvorsen sold 50,000 DHT shares at $20 each for $1 million, reducing her direct holdings by 23.7% to 161,011 shares.
• DHT reported strong quarterly results, with $1.22 earnings per share and $254.96 million in revenue, up 174.8% year over year and above analyst estimates.
• The company raised its quarterly dividend to $1.22 per share, implying an annualized yield of 24.7%, although its payout ratio reached 165.99%.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) CFO Laila Cecilie Halvorsen sold 50,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $20.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer directly owned 161,011 shares in the company, valued at $3,220,220. This trade represents a 23.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

DHT Trading Down 1.1%

Shares of DHT stock opened at $19.78 on Friday. 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 52 week low of $10.83 and a 52 week high of $20.55. The stock has a 50 day moving average price of $18.25 and a two-hundred day moving average price of $17.74. The stock has a market capitalization of $3.19 billion, a PE ratio of 6.73 and a beta of -0.11.

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

DHT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, August 17th. This is an increase from DHT's previous quarterly dividend of $0.64. This represents a $4.88 dividend on an annualized basis and a dividend yield of 24.7%. DHT's payout ratio is 165.99%.

Wall Street Analyst Weigh In

DHT has been the subject of a number of research analyst reports. Weiss Ratings raised DHT from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, August 7th. Wall Street Zen raised shares of DHT from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Three 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, DHT has an average rating of "Moderate Buy" and a consensus price target of $19.33.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DHT. EverSource Wealth Advisors LLC lifted its position 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 worth $36,000 after acquiring an additional 1,596 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in DHT by 568.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company's stock worth $43,000 after purchasing an additional 3,022 shares in the last quarter. Western Wealth Management LLC bought a new position in DHT in the 1st quarter worth about $46,000. Leonteq Securities AG bought a new position in DHT in the 4th quarter worth about $59,000. Finally, Sunbelt Securities Inc. bought a new position in DHT in the 3rd quarter worth about $60,000. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

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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