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

DHT Holdings, Inc. (NYSE:DHT) saw unusually large options trading activity on Thursday. Investors purchased 16,670 call options on the stock. This is an increase of approximately 111% compared to the typical daily volume of 7,903 call options.

Hedge Funds Weigh In On DHT

Institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership boosted its holdings in shares of DHT by 74.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,315,767 shares of the shipping company’s stock valued at $78,849,000 after acquiring an additional 1,836,892 shares during the period. Marex Group plc increased its holdings in shares of DHT by 5,860.2% in the 4th quarter. Marex Group plc now owns 1,084,752 shares of the shipping company’s stock valued at $13,245,000 after acquiring an additional 1,066,552 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in DHT by 1,072.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,162,300 shares of the shipping company’s stock valued at $21,235,000 after purchasing an additional 1,063,134 shares during the last quarter. Qube Research & Technologies Ltd raised its position in DHT by 706.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock valued at $11,650,000 after purchasing an additional 943,990 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in DHT by 168.3% during the 1st quarter. Bank of America Corp DE now owns 1,186,289 shares of the shipping company’s stock worth $21,674,000 after purchasing an additional 744,130 shares during the period. Institutional investors and hedge funds own 58.53% of the company’s stock.

DHT Stock Performance

Shares of DHT stock opened at $17.43 on Friday. The business has a 50-day moving average of $17.56 and a 200 day moving average of $16.78. DHT has a 12 month low of $10.61 and a 12 month high of $20.55. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 8.46 and a beta of -0.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 1.62.

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

DHT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were given a $0.64 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $2.56 annualized dividend and a yield of 14.7%. This is a boost from DHT’s previous quarterly dividend of $0.41. DHT’s dividend payout ratio is 124.27%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Weiss Ratings upgraded DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Wall Street Zen upgraded shares of DHT from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Evercore lowered shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price target on the stock. in a research report on Wednesday, April 22nd. Finally, BTIG Research upped their price objective on DHT from $18.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.33.

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.