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 stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $20.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer directly owned 161,011 shares of the company’s stock, valued at approximately $3,220,220. The trade was a 23.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

DHT Stock Performance

NYSE:DHT opened at $19.74 on Monday. 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 1 year low of $10.83 and a 1 year high of $20.62. The stock’s 50 day simple moving average is $18.30 and its two-hundred day simple moving average is $17.78. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 6.71 and a beta of -0.11.

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 business had revenue of $254.96 million for the quarter, compared to analysts’ expectations of $247.17 million. DHT had a return on equity of 39.40% and a net margin of 65.52%.The company’s revenue for the quarter was up 174.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS.

DHT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be given a $1.22 dividend. This is a boost from DHT’s previous quarterly dividend of $0.64. This represents a $4.88 annualized dividend and a yield of 24.7%. The ex-dividend date is Monday, August 17th. DHT’s dividend payout ratio (DPR) is presently 165.99%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its position in shares of DHT by 593.3% during the fourth quarter. State of Alaska Department of Revenue now owns 41,145 shares of the shipping company’s stock valued at $501,000 after buying an additional 35,210 shares during the period. Bank of America Corp DE raised its holdings in shares of DHT by 168.3% in the first quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company’s stock worth $21,674,000 after buying an additional 744,130 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of DHT in the fourth quarter worth approximately $2,720,000. Arrowstreet Capital Limited Partnership lifted its stake 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 last quarter. Finally, WIT Partners Advisory Pte. Ltd. bought a new position in DHT in the 1st quarter valued at $5,163,000. Institutional investors own 58.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DHT shares. Wall Street Zen upgraded shares of DHT from a “buy” rating to a “strong-buy” rating in a research report 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. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, DHT has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

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.