DHT Target of Unusually Large Options Trading (NYSE:DHT)

DHT Holdings, Inc. (NYSE:DHT) was the recipient of some unusual options trading on Wednesday. Stock investors purchased 6,036 call options on the stock. This represents an increase of approximately 445% compared to the typical daily volume of 1,108 call options.

Institutional Investors Weigh In On DHT

A number of institutional investors and hedge funds have recently bought and sold shares of DHT. Headlands Technologies LLC acquired a new stake in DHT during the first quarter worth approximately $51,000. McIlrath & Eck LLC acquired a new position in DHT in the third quarter valued at $52,000. National Bank of Canada FI lifted its position in DHT by 150.0% during the fourth quarter. National Bank of Canada FI now owns 5,000 shares of the shipping company’s stock worth $50,000 after buying an additional 3,000 shares during the period. Capital Performance Advisors LLP purchased a new stake in DHT in the 4th quarter valued at about $98,000. Finally, Granite Bay Wealth Management LLC acquired a new position in shares of DHT during the 4th quarter valued at about $111,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group upgraded DHT from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $14.00 in a research note on Thursday, March 21st. Stifel Nicolaus reissued a “hold” rating and issued a $12.00 price objective on shares of DHT in a research note on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DHT presently has an average rating of “Moderate Buy” and an average target price of $14.33.

DHT Price Performance

Shares of DHT traded up $0.20 during mid-day trading on Wednesday, hitting $11.87. The company’s stock had a trading volume of 772,560 shares, compared to its average volume of 1,749,819. The firm has a 50-day simple moving average of $11.78 and a 200 day simple moving average of $11.20. DHT has a 1-year low of $7.91 and a 1-year high of $12.80. The firm has a market capitalization of $1.91 billion, a P/E ratio of 11.12 and a beta of -0.32. The company has a current ratio of 3.30, a quick ratio of 2.69 and a debt-to-equity ratio of 0.35.

DHT (NYSE:DHT) last posted its quarterly earnings results on Tuesday, May 14th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). DHT had a net margin of 29.58% and a return on equity of 16.34%. The company had revenue of $106.30 million for the quarter, compared to analyst estimates of $106.87 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. DHT’s revenue was up 13.2% on a year-over-year basis. Analysts predict that DHT will post 1.49 EPS for the current fiscal year.

DHT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 24th were given a $0.29 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This is a positive change from DHT’s previous quarterly dividend of $0.22. This represents a $1.16 annualized dividend and a dividend yield of 9.77%. DHT’s dividend payout ratio is currently 110.48%.

DHT Company Profile

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.