DHT Sees Unusually High Options Volume (NYSE:DHT)

DHT Holdings, Inc. (NYSE:DHT) was the target of some unusual options trading activity on Thursday. Stock traders acquired 23,301 call options on the stock. This is an increase of 161% compared to the typical volume of 8,911 call options.

Insiders Place Their Bets

In related news, Director Svenn Edvardsen sold 341,007 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $20.29, for a total transaction of $6,919,032.03. Following the transaction, the director directly owned 395,705 shares in the company, valued at approximately $8,028,854.45. The trade was a 46.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Laila Halvorsen sold 50,000 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $20.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer directly owned 161,011 shares in the company, valued at $3,220,220. This trade represents a 23.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 583,803 shares of company stock valued at $11,843,097 in the last ninety days. 1.60% of the stock is currently owned by insiders.

Institutional Trading of DHT

A number of institutional investors and hedge funds have recently made changes to their positions in DHT. BlueCrest Capital Management Ltd bought a new position in shares of DHT in the second quarter worth about $237,000. Integrated Wealth Concepts LLC bought a new position in DHT in the 2nd quarter valued at approximately $83,000. Raiffeisen Bank International AG boosted its position in DHT by 42.4% in the second quarter. Raiffeisen Bank International AG now owns 110,031 shares of the shipping company’s stock valued at $1,819,000 after buying an additional 32,765 shares in the last quarter. AXQ Capital LP bought a new stake in shares of DHT during the second quarter worth $641,000. Finally, Triumph Capital Management grew 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 last quarter. Institutional investors own 58.53% of the company’s stock.

DHT Stock Performance

DHT stock traded up $0.35 during trading hours on Thursday, hitting $21.63. The company had a trading volume of 2,664,667 shares, compared to its average volume of 3,752,162. The firm has a 50-day moving average of $19.69 and a 200 day moving average of $18.45. 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 firm has a market cap of $3.48 billion, a PE ratio of 7.36 and a beta of -0.09. DHT has a one year low of $10.83 and a one year high of $23.56.

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

DHT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 22.6%. The ex-dividend date was Monday, August 17th. This is a positive change from DHT’s previous quarterly dividend of $0.64. DHT’s dividend payout ratio is currently 165.99%.

Wall Street Analyst Weigh In

DHT has been the subject of several recent analyst reports. BTIG Research raised their target price on shares of DHT from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Weiss Ratings raised DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, September 8th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

DHT Company Profile

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.