DHT Sees Unusually High Options Volume (NYSE:DHT)

DHT Holdings, Inc. (NYSE:DHT) saw unusually large options trading activity on Friday. Investors purchased 21,238 call options on the company. This represents an increase of approximately 181% compared to the average volume of 7,545 call options.

DHT Stock Performance

Shares of DHT stock traded up $0.52 during trading hours on Friday, reaching $20.71. 2,029,326 shares of the stock traded hands, compared to its average volume of 3,695,995. The company has a 50 day moving average price of $18.42 and a 200 day moving average price of $18.08. DHT has a one year low of $10.83 and a one year high of $21.09. The company has a quick ratio of 3.32, a current ratio of 3.64 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 7.05 and a beta of -0.09.

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

DHT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 23.6%. This is a boost from DHT’s previous quarterly dividend of $0.64. The ex-dividend date was Monday, August 17th. DHT’s dividend payout ratio (DPR) is presently 165.99%.

Insider Buying and Selling at DHT

In other news, CFO Laila Halvorsen sold 50,000 shares of the company’s 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 owned 161,011 shares in the company, valued at approximately $3,220,220. This represents a 23.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sophie Rossini sold 33,000 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $20.04, for a total transaction of $661,320.00. Following the sale, the director owned 78,543 shares in the company, valued at approximately $1,574,001.72. The trade was a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 528,803 shares of company stock worth $10,644,297 in the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DHT. Bank of America Corp DE lifted its holdings in DHT by 168.3% during the first quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company’s stock valued at $21,674,000 after purchasing an additional 744,130 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position 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 valued at $78,849,000 after purchasing an additional 1,836,892 shares during the period. WIT Partners Advisory Pte. Ltd. purchased a new position in shares of DHT during the 1st quarter valued at $5,163,000. Strs Ohio bought a new position in DHT in the 4th quarter worth $774,000. Finally, Navellier & Associates Inc. purchased a new stake in DHT in the 2nd quarter worth $3,558,000. 58.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DHT has been the topic of a number of research analyst reports. Weiss Ratings downgraded DHT from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 24th. Wall Street Zen raised shares of DHT from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.