DHT (NYSE:DHT) Sets New 52-Week High – Should You Buy?

DHT Holdings, Inc. (NYSE:DHT)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $22.82 and last traded at $22.1460, with a volume of 6056749 shares. The stock had previously closed at $22.15.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, September 8th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, DHT has a consensus rating of “Moderate Buy” and an average target price of $19.33.

DHT Stock Performance

The firm has a fifty day moving average of $19.34 and a 200 day moving average of $18.36. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.64 and a quick ratio of 3.32. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 7.76 and a beta of -0.09.

DHT (NYSE:DHT) last released its quarterly earnings data on Wednesday, August 5th. The shipping company reported $1.22 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 analyst estimates of $247.17 million. DHT had a return on equity of 39.40% and a net margin of 65.52%.The business’s quarterly revenue was up 174.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS.

DHT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 21.4%. This is a boost from DHT’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Monday, August 17th. DHT’s payout ratio is currently 165.99%.

Insider Activity at DHT

In related news, CFO Laila Halvorsen sold 50,000 shares of the firm’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 sale, the chief financial officer owned 161,011 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, insider Jon Eglin sold 25,000 shares of DHT stock in a transaction on Friday, September 4th. The shares were sold at an average price of $21.00, for a total transaction of $525,000.00. Following the completion of the transaction, the insider directly owned 274,622 shares of the company’s stock, valued at $5,767,062. The trade was a 8.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 583,803 shares of company stock valued at $11,843,097 in the last quarter. 1.60% of the stock is currently owned by insiders.

Institutional Trading of DHT

Several institutional investors have recently bought and sold shares of DHT. Baron Wealth Management LLC raised its position in DHT by 4.2% in the 1st quarter. Baron Wealth Management LLC now owns 14,750 shares of the shipping company’s stock valued at $269,000 after purchasing an additional 592 shares in the last quarter. Harbour Investments Inc. grew its position in shares of DHT by 16.0% during the fourth quarter. Harbour Investments Inc. now owns 7,237 shares of the shipping company’s stock worth $88,000 after buying an additional 1,000 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of DHT by 32.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,846 shares of the shipping company’s stock worth $89,000 after buying an additional 1,175 shares during the period. Savant Capital LLC increased its stake in shares of DHT by 7.6% during the fourth quarter. Savant Capital LLC now owns 19,083 shares of the shipping company’s stock worth $233,000 after buying an additional 1,345 shares during the period. Finally, Triumph Capital Management increased its stake in shares of DHT by 155.0% during the second quarter. Triumph Capital Management now owns 3,697 shares of the shipping company’s stock worth $61,000 after buying an additional 2,247 shares during the period. 58.53% of the stock is owned by institutional investors and hedge funds.

About DHT

DHT Holdings, Inc (NYSE: DHT) is a maritime transportation company that owns and operates crude oil tankers. Its fleet is primarily composed of very large crude carriers (VLCCs), which transport crude oil in international seaborne trade.

The company provides tanker transportation services to energy companies, commodity traders and other customers through a combination of voyage charters, time charters and related commercial arrangements. Its vessels serve major global crude oil trade routes linking oil-producing regions with refineries and consuming markets.

DHT was established in 2005 and is headquartered in Hamilton, Bermuda, with operations and commercial activities supported through international offices.