DHT (NYSE:DHT) Hits New 12-Month High - Here's Why

Key Points

• DHT shares reached a new 52-week high of $21.00, up 2.7%, amid strong tanker-market momentum. Analysts maintain a “Moderate Buy” consensus, though the $19.33 target is below the current price.
• DHT reported quarterly EPS of $1.22, exceeding estimates, while revenue surged 174.8% year over year to $254.96 million. The company also raised its quarterly dividend to $1.22, implying a 23.5% annualized yield.
• Insiders sold more than $10.6 million of stock over the past three months, including sizable sales by the CFO and a director, while institutional investors own 58.53% of the company.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $21.00 and last traded at $21.0030, with a volume of 427185 shares trading hands. The stock had previously closed at $20.19.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Weiss Ratings downgraded DHT from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, August 24th. Wall Street Zen upgraded shares of DHT from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, DHT has a consensus rating of "Moderate Buy" and a consensus target price of $19.33.

DHT Stock Up 2.7%

The company has a quick ratio of 3.32, a current ratio of 3.64 and a debt-to-equity ratio of 0.29. The company has a 50 day simple moving average of $18.42 and a two-hundred day simple moving average of $18.08. The company has a market capitalization of $3.34 billion, a P/E ratio of 7.05 and a beta of -0.09.

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

DHT Increases Dividend

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

Insider Activity at DHT

In other news, CFO Laila Halvorsen sold 50,000 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $20.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer owned 161,011 shares of the company's stock, valued at approximately $3,220,220. This represents a 23.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sophie Rossini sold 33,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $20.04, for a total transaction of $661,320.00. Following the completion of the sale, the director directly owned 78,543 shares in the company, valued at approximately $1,574,001.72. This represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 528,803 shares of company stock valued at $10,644,297 over the last three months. Corporate insiders own 1.60% of the company's stock.

Institutional Trading of DHT

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in shares of DHT by 178.9% during the first quarter. AQR Capital Management LLC now owns 70,582 shares of the shipping company's stock valued at $741,000 after buying an additional 45,275 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of DHT during the 2nd quarter worth approximately $171,000. Creative Planning boosted its holdings in DHT by 34.1% during the 2nd quarter. Creative Planning now owns 15,189 shares of the shipping company's stock valued at $164,000 after acquiring an additional 3,859 shares during the period. JPMorgan Chase & Co. boosted its holdings in DHT by 11.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 400,068 shares of the shipping company's stock valued at $4,325,000 after acquiring an additional 40,574 shares during the period. Finally, Prudential Financial Inc. bought a new position in DHT in the 2nd quarter valued at $162,000. Institutional investors own 58.53% of the company's stock.

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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