DHT Holdings, Inc. (NYSE:DHT) Stock Has Average Target Price of $21.00 According to Brokerages

DHT Holdings, Inc. (NYSE:DHT) has received a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $21.00.

Several research analysts have weighed in on DHT shares. BTIG Research lifted their target price on DHT from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Weiss Ratings raised DHT from a “buy (b+)” rating to a “buy (a)” rating in a report on Thursday, October 8th.

Insider Activity

In related news, CFO Laila Halvorsen sold 50,000 shares of DHT 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 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 SEC, which is available at the SEC website. Also, insider Jon Eglin sold 25,000 shares of DHT stock in a transaction on 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 transaction, the insider owned 274,622 shares in the company, valued at approximately $5,767,062. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 583,803 shares of company stock valued at $11,843,097. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of DHT

Hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its position in shares of DHT by 74.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company’s stock valued at $78,849,000 after acquiring an additional 1,836,892 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of DHT by 1,072.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,162,300 shares of the shipping company’s stock worth $21,235,000 after acquiring an additional 1,063,134 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of DHT by 168.3% during the 1st quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company’s stock worth $21,674,000 after acquiring an additional 744,130 shares in the last quarter. Acorn Financial Advisory Services Inc. ADV acquired a new stake in shares of DHT in the 1st quarter worth approximately $13,123,000. Finally, WIT Partners Advisory Pte. Ltd. acquired a new stake in shares of DHT in the 1st quarter worth approximately $5,163,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

DHT Stock Performance

NYSE DHT opened at $24.56 on Wednesday. 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 $11.64 and a 52-week high of $26.91. The business’s 50-day moving average price is $22.03 and its 200 day moving average price is $19.35. The firm has a market cap of $3.96 billion, a P/E ratio of 8.26 and a beta of -0.03.

DHT (NYSE:DHT) last issued its quarterly earnings results 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 firm 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%. The firm’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 posted $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 issued a dividend of $1.22 per share. This is a boost from DHT’s previous quarterly dividend of $0.64. This represents a $4.88 annualized dividend and a dividend yield of 19.9%. The ex-dividend date of this dividend was Monday, August 17th. DHT’s dividend payout ratio is 165.99%.

DHT Company Profile

DHT Holdings, Inc (NYSE:DHT) is a maritime transportation company that owns and operates crude oil tankers. The company’s fleet is primarily composed of very large crude carriers (VLCCs), which transport large volumes of crude oil between major production and refining markets worldwide.

DHT provides ocean transportation services to energy companies, commodity traders and other customers through voyage charters, time charters and other commercial arrangements. Its operations include the commercial, technical and safety management of its vessels, with activities serving international crude oil trade routes across the Atlantic, Pacific and other major maritime regions.

Founded in 2005, DHT is incorporated in the Marshall Islands and has corporate and operational activities based in Bermuda, Norway and Singapore.