Insider Selling: DHT (NYSE:DHT) CFO Sells $1,000,000.00 in Stock

DHT Holdings, Inc. (NYSE:DHT) CFO Laila Cecilie Halvorsen sold 50,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $20.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer owned 161,011 shares of the company’s stock, valued at $3,220,220. This trade represents a 23.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

DHT Price Performance

DHT stock opened at $19.78 on Friday. The stock has a market cap of $3.19 billion, a PE ratio of 6.73 and a beta of -0.11. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.64 and a quick ratio of 3.32. DHT Holdings, Inc. has a one year low of $10.83 and a one year high of $20.55. The firm has a 50 day simple moving average of $18.25 and a two-hundred day simple moving average of $17.74.

DHT (NYSE:DHT) last posted its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.18 by $0.04. DHT had a net margin of 65.52% and a return on equity of 39.40%. The firm had revenue of $254.96 million for the quarter, compared to the consensus estimate of $247.17 million. During the same period last year, the firm posted $0.35 earnings per share. The business’s revenue was up 174.8% compared to the same quarter last year.

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 issued a dividend of $1.22 per share. This is an increase from DHT’s previous quarterly dividend of $0.64. This represents a $4.88 dividend on an annualized basis and a dividend yield of 24.7%. The ex-dividend date is Monday, August 17th. DHT’s dividend payout ratio (DPR) is currently 165.99%.

Institutional Trading of DHT

Several large investors have recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its stake in shares of DHT by 593.3% in the 4th quarter. State of Alaska Department of Revenue now owns 41,145 shares of the shipping company’s stock valued at $501,000 after purchasing an additional 35,210 shares during the period. Bank of America Corp DE boosted its holdings 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 valued at $21,674,000 after buying an additional 744,130 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of DHT in the 4th quarter worth about $2,720,000. Arrowstreet Capital Limited Partnership lifted its position in 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. Finally, WIT Partners Advisory Pte. Ltd. purchased a new stake in DHT in the first quarter worth about $5,163,000. 58.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.