DHT (NYSE:DHT) Price Target Raised to $28.00

DHT (NYSE:DHT) had its price target hoisted by BTIG Research from $23.00 to $28.00 in a research note released on Friday, MarketBeat reports. The firm currently has a buy rating on the shipping company’s stock.

Separately, Weiss Ratings upgraded shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, September 8th. 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.00.

DHT Stock Up 0.0%

NYSE DHT opened at $23.27 on Friday. The company has a quick ratio of 3.32, a current ratio of 3.64 and a debt-to-equity ratio of 0.29. DHT has a 52 week low of $10.83 and a 52 week high of $23.51. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 7.92 and a beta of -0.09. The company has a fifty day moving average of $19.45 and a two-hundred day moving average of $18.39.

DHT (NYSE:DHT) last announced its 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 business 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 for the quarter 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 21.0%. The ex-dividend date was Monday, August 17th. This is an increase from DHT’s previous quarterly dividend of $0.64. DHT’s dividend payout ratio (DPR) is presently 165.99%.

Insider Buying and Selling

In other news, insider Jon Eglin sold 50,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $19.99, for a total transaction of $999,500.00. Following the completion of the sale, the insider directly owned 324,622 shares of the company’s stock, valued at approximately $6,489,193.78. The trade was a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sophie Rossini sold 33,000 shares of the business’s 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 sale, the director directly owned 78,543 shares of the company’s stock, valued at $1,574,001.72. This represents a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 583,803 shares of company stock worth $11,843,097 over the last ninety days.

Institutional Investors Weigh In On DHT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DHT. Public Employees Retirement System of Ohio purchased a new position in shares of DHT during the second quarter worth approximately $1,437,000. Bank of America Corp DE boosted 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 purchasing an additional 744,130 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in DHT by 74.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company’s stock worth $78,849,000 after purchasing an additional 1,836,892 shares in the last quarter. WIT Partners Advisory Pte. Ltd. bought a new position in DHT in the first quarter worth approximately $5,163,000. Finally, Navellier & Associates Inc. purchased a new position in DHT during the 2nd quarter worth $3,558,000. Institutional investors own 58.53% of the company’s stock.

DHT Company Profile

DHT Holdings, Inc (NYSE: DHT) is a maritime transportation company that owns and operates crude oil tankers. Its fleet is primarily composed of very large crude carriers (VLCCs), which transport crude oil in international seaborne trade.

The company provides tanker transportation services to energy companies, commodity traders and other customers through a combination of voyage charters, time charters and related commercial arrangements. Its vessels serve major global crude oil trade routes linking oil-producing regions with refineries and consuming markets.

DHT was established in 2005 and is headquartered in Hamilton, Bermuda, with operations and commercial activities supported through international offices.