DHT (NYSE:DHT) Shares Gap Down – Should You Sell?

Shares of DHT Holdings, Inc. (NYSE:DHT) gapped down prior to trading on Monday . The stock had previously closed at $19.52, but opened at $18.42. DHT shares last traded at $18.5150, with a volume of 371,865 shares.

Wall Street Analyst Weigh In

Several research firms recently commented on DHT. Wall Street Zen raised DHT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. BTIG Research boosted their target price on DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Weiss Ratings upgraded shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, August 7th. Finally, Evercore downgraded shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price target on the stock. in a report on Wednesday, April 22nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, DHT has an average rating of “Moderate Buy” and an average price target of $19.33.

DHT Stock Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 3.64 and a quick ratio of 3.32. The business has a 50-day simple moving average of $18.12 and a 200 day simple moving average of $17.66. The firm has a market cap of $3.11 billion, a PE ratio of 6.57 and a beta of -0.11.

DHT (NYSE:DHT) 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 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 company’s revenue for the quarter was up 174.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share.

DHT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be issued a dividend of $1.22 per share. The ex-dividend date is Monday, August 17th. This represents a $4.88 annualized dividend and a yield of 25.3%. This is a boost from DHT’s previous quarterly dividend of $0.64. DHT’s dividend payout ratio (DPR) is 165.99%.

Insiders Place Their Bets

In other news, Director Jeremy Kramer sold 29,796 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $18.65, for a total value of $555,695.40. Following the sale, the director directly owned 71,332 shares in the company, valued at $1,330,341.80. The trade was a 29.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DHT. Western Wealth Management LLC purchased a new stake in DHT during the first quarter valued at approximately $46,000. EverSource Wealth Advisors LLC boosted its holdings in shares of DHT by 91.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after purchasing an additional 1,596 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of 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 valued at $43,000 after purchasing an additional 3,022 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of DHT by 32.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,846 shares of the shipping company’s stock valued at $89,000 after purchasing an additional 1,175 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in DHT during the 4th quarter valued at $59,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

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.