DHT (NYSE:DHT) Shares Up 7% – Here’s What Happened

DHT Holdings, Inc. (NYSE:DHT) rose 7% during mid-day trading on Tuesday . The stock traded as high as $18.59 and last traded at $18.5150. Approximately 768,921 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 3,886,476 shares. The stock had previously closed at $17.31.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DHT shares. Weiss Ratings upgraded shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. BTIG Research boosted their target price on shares of DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Evercore lowered shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 target price on the stock. in a report on Wednesday, April 22nd. Finally, Wall Street Zen raised shares of 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 three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.33.

DHT Price Performance

The firm has a market capitalization of $2.94 billion, a PE ratio of 8.86 and a beta of -0.11. The business has a 50-day moving average of $17.65 and a 200 day moving average of $16.66. The company has a current ratio of 1.83, a quick ratio of 1.62 and a debt-to-equity ratio of 0.33.

DHT (NYSE:DHT) last issued its quarterly earnings data on Tuesday, May 5th. The shipping company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $157.20 million for the quarter, compared to analysts’ expectations of $152.15 million. DHT had a return on equity of 27.54% and a net margin of 58.54%.The business’s revenue was up 134.9% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS.

DHT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, May 21st. This is an increase from DHT’s previous quarterly dividend of $0.41. This represents a $2.56 dividend on an annualized basis and a dividend yield of 14.0%. DHT’s payout ratio is 124.27%.

Institutional Investors Weigh In On DHT

A number of institutional investors have recently added to or reduced their stakes in DHT. AQR Capital Management LLC lifted its position in shares of DHT by 178.9% during the 1st quarter. AQR Capital Management LLC now owns 70,582 shares of the shipping company’s stock worth $741,000 after buying an additional 45,275 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in shares of DHT in the second quarter valued at approximately $171,000. Creative Planning increased its position in shares of DHT by 34.1% during the second quarter. Creative Planning now owns 15,189 shares of the shipping company’s stock valued at $164,000 after acquiring an additional 3,859 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of DHT by 11.3% during the second quarter. JPMorgan Chase & Co. now owns 400,068 shares of the shipping company’s stock valued at $4,325,000 after acquiring an additional 40,574 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in DHT during the second quarter worth $162,000. 58.53% of the stock is owned by institutional investors.

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.