Stock Traders Buy Large Volume of DHT Call Options (NYSE:DHT)

DHT Holdings, Inc. (NYSE:DHT) was the target of some unusual options trading on Friday. Stock traders acquired 60,120 call options on the company. This represents an increase of approximately 1,058% compared to the typical volume of 5,192 call options.

DHT Stock Up 1.6%

NYSE:DHT traded up $0.30 during trading hours on Friday, hitting $19.50. 3,300,546 shares of the company’s stock traded hands, compared to its average volume of 2,779,850. The firm has a market cap of $3.14 billion, a P/E ratio of 6.63 and a beta of -0.11. DHT has a twelve month low of $10.69 and a twelve month high of $20.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.32 and a current ratio of 3.64. The stock’s fifty day moving average price is $18.02 and its two-hundred day moving average price is $17.56.

DHT (NYSE:DHT) last announced 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. DHT had a return on equity of 39.40% and a net margin of 65.52%.The firm had revenue of $254.96 million during the quarter, compared to the consensus estimate of $247.17 million. During the same period in the prior year, the business earned $0.35 EPS. The business’s revenue for the quarter was up 174.8% on a year-over-year basis.

DHT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 25.0%. This is a positive change from DHT’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Monday, August 17th. DHT’s payout ratio is currently 165.99%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at DHT

In related 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 transaction, the director owned 71,332 shares of the company’s stock, valued at approximately $1,330,341.80. This trade represents a 29.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

Institutional Trading of DHT

Several institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its stake in DHT by 91.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock valued at $36,000 after buying an additional 1,596 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of DHT by 568.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock valued at $43,000 after buying an additional 3,022 shares during the period. Western Wealth Management LLC acquired a new stake in shares of DHT during the 1st quarter valued at $46,000. Leonteq Securities AG acquired a new stake in shares of DHT during the 4th quarter valued at $59,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of DHT during the 3rd quarter valued at $60,000. 58.53% of the stock is currently owned by institutional investors and hedge funds.

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.