DHT (NYSE:DHT) Insider Sells $525,000.00 in Stock

DHT Holdings, Inc. (NYSE:DHT) insider Jon Eglin sold 25,000 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $21.00, for a total transaction of $525,000.00. Following the completion of the sale, the insider directly owned 274,622 shares of the company’s stock, valued at approximately $5,767,062. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

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

DHT Stock Performance

DHT stock opened at $21.43 on Friday. The company has a 50 day moving average price of $18.82 and a 200-day moving average price of $18.23. 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 fifty-two week low of $10.83 and a fifty-two week high of $21.59. The company has a market capitalization of $3.45 billion, a PE ratio of 7.29 and a beta of -0.09.

DHT (NYSE:DHT) last announced its quarterly earnings data on Wednesday, August 5th. The shipping company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.04. The company had revenue of $254.96 million for 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%.DHT’s revenue was up 174.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 earnings per share.

DHT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 22.8%. The ex-dividend date of this dividend was Monday, August 17th. This is a positive change from DHT’s previous quarterly dividend of $0.64. DHT’s dividend payout ratio is currently 165.99%.

Hedge Funds Weigh In On DHT

A number of large investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its holdings in shares of DHT by 178.9% in the 1st quarter. AQR Capital Management LLC now owns 70,582 shares of the shipping company’s stock valued at $741,000 after acquiring an additional 45,275 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of DHT during the 2nd quarter worth $171,000. Creative Planning lifted its stake in shares of DHT by 34.1% during the 2nd quarter. Creative Planning now owns 15,189 shares of the shipping company’s stock worth $164,000 after purchasing an additional 3,859 shares during the last quarter. JPMorgan Chase & Co. boosted its position in DHT by 11.3% during the second quarter. JPMorgan Chase & Co. now owns 400,068 shares of the shipping company’s stock valued at $4,325,000 after purchasing an additional 40,574 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in DHT during the second quarter valued at about $162,000. Institutional investors own 58.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, DHT has a consensus rating of “Moderate Buy” and a consensus 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.