DHT (NYSE:DHT) Shares Up 7% – What’s Next?

DHT Holdings, Inc. (NYSE:DHT) shot up 7% during mid-day trading on Tuesday . The company traded as high as $18.59 and last traded at $18.5150. 768,921 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 3,886,476 shares. The stock had previously closed at $17.31.

Wall Street Analyst Weigh In

DHT has been the topic of a number of analyst reports. BTIG Research lifted their target price on shares of DHT from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings raised DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Finally, Evercore downgraded DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective on the stock. in a research report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.33.

DHT Stock Performance

The firm has a market capitalization of $2.89 billion, a PE ratio of 8.72 and a beta of -0.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.62 and a current ratio of 1.83. The business’s fifty day simple moving average is $17.61 and its 200-day simple moving average is $16.74.

DHT (NYSE:DHT) last released its earnings results on Tuesday, May 5th. The shipping company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $157.20 million for the quarter, compared to the consensus estimate of $152.15 million. DHT had a net margin of 58.54% and a return on equity of 27.54%. The company’s quarterly revenue was up 134.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share.

DHT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 14.2%. The ex-dividend date was Thursday, May 21st. This is an increase from DHT’s previous quarterly dividend of $0.41. DHT’s dividend payout ratio is presently 124.27%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DHT. Redhawk Wealth Advisors Inc. increased its holdings in shares of DHT by 117.9% in the second quarter. Redhawk Wealth Advisors Inc. now owns 25,394 shares of the shipping company’s stock worth $420,000 after purchasing an additional 13,738 shares during the last quarter. Baron Wealth Management LLC lifted its position in shares of DHT by 7.4% in the second 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 boosted its stake in DHT by 53.7% during the first quarter. Rathbones Group PLC now owns 15,750 shares of the shipping company’s stock valued at $288,000 after buying an additional 5,500 shares during the last quarter. Norris Financial Group LLC bought a new position in DHT during the first quarter valued at approximately $316,000. Finally, Western Wealth Management LLC purchased a new position in DHT during the 1st quarter valued at approximately $46,000. Hedge funds and other institutional investors 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.