DHT (NYSE:DHT) Shares Gap Down – Time to Sell?

DHT Holdings, Inc. (NYSE:DHT) shares gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

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

DHT Trading Down 4.3%

The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 6.35 and a beta of -0.11. The business’s 50-day simple moving average is $18.02 and its two-hundred day simple moving average is $17.59. 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 (NYSE:DHT) last released its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.04. DHT had a net margin of 65.52% and a return on equity of 39.40%. The business had revenue of $254.96 million for the quarter, compared to the consensus estimate of $247.17 million. During the same period in the previous year, the firm earned $0.35 EPS. The business’s revenue was up 174.8% on a year-over-year basis.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be issued a dividend of $1.22 per share. This is a positive change from DHT’s previous quarterly dividend of $0.64. The ex-dividend date is Monday, August 17th. This represents a $4.88 dividend on an annualized basis and a yield of 26.1%. DHT’s dividend payout ratio (DPR) is 87.07%.

Insiders Place Their Bets

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

Institutional Trading of DHT

Several hedge funds have recently made changes to their positions in DHT. Globeflex Capital L P purchased a new position in shares of DHT in the second quarter valued at approximately $475,000. Redhawk Wealth Advisors Inc. increased its stake in DHT by 117.9% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 25,394 shares of the shipping company’s stock worth $420,000 after buying an additional 13,738 shares during the period. Baron Wealth Management LLC lifted its holdings in DHT by 7.4% during the 2nd quarter. Baron Wealth Management LLC now owns 15,843 shares of the shipping company’s stock worth $262,000 after buying an additional 1,093 shares in the last quarter. Rathbones Group PLC lifted its holdings in DHT by 53.7% during the 1st quarter. Rathbones Group PLC now owns 15,750 shares of the shipping company’s stock worth $288,000 after buying an additional 5,500 shares in the last quarter. Finally, Norris Financial Group LLC purchased a new position in DHT in the 1st quarter valued at approximately $316,000. Institutional investors and hedge funds 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.