Insider Selling: DHT (NYSE:DHT) Director Sells $661,320.00 in Stock

DHT Holdings, Inc. (NYSE:DHT) Director Sophie Rossini sold 33,000 shares of DHT stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $20.04, for a total transaction of $661,320.00. Following the sale, the director directly owned 78,543 shares of the company’s stock, valued at $1,574,001.72. The trade was a 29.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

DHT Stock Down 0.4%

Shares of DHT opened at $19.74 on Monday. DHT Holdings, Inc. has a 52 week low of $10.83 and a 52 week high of $20.62. The firm has a market cap of $3.18 billion, a P/E ratio of 6.71 and a beta of -0.11. The firm’s 50-day simple moving average is $18.30 and its 200 day simple moving average is $17.78. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.32 and a current ratio of 3.64.

DHT (NYSE:DHT) last issued its quarterly earnings data on Wednesday, August 5th. The shipping company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.04. The firm had revenue of $254.96 million during 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 business’s revenue for the quarter was up 174.8% compared to the same quarter last year. During the same period last year, the business posted $0.35 earnings per share.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 24.7%. This is an increase from DHT’s previous quarterly dividend of $0.64. The ex-dividend date is Monday, August 17th. DHT’s dividend payout ratio is 165.99%.

Analysts Set New Price Targets

Several research firms recently weighed in on DHT. Wall Street Zen raised DHT from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings raised DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.33.

Hedge Funds Weigh In On DHT

A number of hedge funds have recently added to or reduced their stakes in DHT. Arrowstreet Capital Limited Partnership lifted its holdings 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 worth $78,849,000 after acquiring an additional 1,836,892 shares during the period. Marex Group plc increased its stake in DHT by 5,860.2% in the fourth quarter. Marex Group plc now owns 1,084,752 shares of the shipping company’s stock valued at $13,245,000 after acquiring an additional 1,066,552 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in DHT by 1,072.1% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,162,300 shares of the shipping company’s stock valued at $21,235,000 after acquiring an additional 1,063,134 shares during the last quarter. Qube Research & Technologies Ltd raised its position in DHT by 706.0% during the second quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock valued at $11,650,000 after purchasing an additional 943,990 shares in the last quarter. Finally, Bank of America Corp DE grew its position in 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 during the last quarter. 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.