DHT Sees Unusually Large Options Volume (NYSE:DHT)

DHT Holdings, Inc. (NYSE:DHT) was the target of unusually large options trading activity on Wednesday. Stock traders acquired 10,920 put options on the company. This is an increase of 468% compared to the typical daily volume of 1,921 put options.

DHT Trading Up 2.1%

Shares of DHT stock traded up $0.27 during trading hours on Wednesday, hitting $12.78. The company’s stock had a trading volume of 625,750 shares, compared to its average volume of 1,778,343. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 10.30 and a beta of -0.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.02 and a current ratio of 2.41. DHT has a twelve month low of $8.76 and a twelve month high of $13.85. The firm has a fifty day moving average of $12.75 and a 200-day moving average of $11.99.

DHT (NYSE:DHT) last issued its quarterly earnings data on Wednesday, October 29th. The shipping company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.11. DHT had a net margin of 41.17% and a return on equity of 17.05%. The firm had revenue of $107.35 million for the quarter, compared to analyst estimates of $78.83 million. During the same period in the previous year, the firm earned $0.22 EPS. DHT’s revenue was down 14.6% on a year-over-year basis. Research analysts forecast that DHT will post 0.94 EPS for the current year.

DHT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.6%. DHT’s dividend payout ratio (DPR) is presently 58.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group restated a “buy” rating and issued a $16.00 price target on shares of DHT in a research report on Thursday, October 30th. BTIG Research reissued a “buy” rating and set a $16.00 price objective on shares of DHT in a research note on Thursday, October 30th. Wall Street Zen lowered DHT from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a research report on Wednesday, October 8th. Finally, Evercore ISI upped their price objective on shares of DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.67.

Institutional Trading of DHT

Several institutional investors have recently added to or reduced their stakes in DHT. CIBC Bancorp USA Inc. acquired a new stake in DHT during the 3rd quarter worth approximately $162,000. Sunbelt Securities Inc. purchased a new stake in shares of DHT during the third quarter worth $60,000. Dark Forest Capital Management LP acquired a new stake in shares of DHT in the third quarter valued at $1,160,000. PharVision Advisers LLC boosted its holdings in DHT by 46.2% in the third quarter. PharVision Advisers LLC now owns 24,588 shares of the shipping company’s stock valued at $294,000 after purchasing an additional 7,771 shares during the period. Finally, XTX Topco Ltd acquired a new position in DHT during the 3rd quarter worth $913,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.