Royal Bank of Canada Sells 26,310 Shares of DHT Holdings, Inc. $DHT

Royal Bank of Canada decreased its holdings in shares of DHT Holdings, Inc. (NYSE:DHT) by 32.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,715 shares of the shipping company’s stock after selling 26,310 shares during the quarter. Royal Bank of Canada’s holdings in DHT were worth $999,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DHT. State of Alaska Department of Revenue boosted its holdings in shares of DHT by 593.3% during the 4th quarter. State of Alaska Department of Revenue now owns 41,145 shares of the shipping company’s stock worth $501,000 after buying an additional 35,210 shares during the period. Artemis Investment Management LLP bought a new position in DHT in the 4th quarter valued at about $2,720,000. Arrowstreet Capital Limited Partnership raised its holdings in DHT by 74.1% in the 1st 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. WIT Partners Advisory Pte. Ltd. bought a new position in DHT in the 1st quarter valued at about $5,163,000. Finally, Strs Ohio acquired a new stake in DHT during the fourth quarter worth approximately $774,000. 58.53% of the stock is owned by institutional investors.

Insider Buying and Selling at DHT

In other DHT news, insider Jon Stephen Eglin sold 50,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $19.99, for a total transaction of $999,500.00. Following the transaction, the insider owned 324,622 shares in the company, valued at $6,489,193.78. This represents a 13.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Laila Cecilie Halvorsen sold 50,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 161,011 shares in the company, valued at $3,220,220. This represents a 23.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 129,796 shares of company stock valued at $2,555,195 in the last quarter. Company insiders own 1.60% of the company’s stock.

DHT Stock Down 0.3%

DHT opened at $19.74 on Friday. The stock has a fifty day moving average of $18.30 and a 200-day moving average of $17.76. The company has a market capitalization of $3.18 billion, a P/E ratio of 6.71 and a beta of -0.11. DHT Holdings, Inc. has a fifty-two week low of $10.83 and a fifty-two week high of $20.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.32 and a current ratio of 3.64.

DHT (NYSE:DHT) last released its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.18 by $0.04. DHT had a net margin of 65.52% and a return on equity of 39.40%. The business had revenue of $254.96 million for the quarter, compared to the consensus estimate of $247.17 million. During the same period in the prior year, the company posted $0.35 earnings per share. DHT’s revenue was up 174.8% compared to the same quarter last year.

DHT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be issued a $1.22 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $4.88 dividend on an annualized basis and a yield of 24.7%. This is an increase from DHT’s previous quarterly dividend of $0.64. DHT’s payout ratio is presently 165.99%.

Analyst Upgrades and Downgrades

DHT has been the subject of a number of research analyst reports. Weiss Ratings upgraded DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, August 7th. Wall Street Zen upgraded DHT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, DHT presently has an average rating of “Moderate Buy” and an average price target of $19.33.

About DHT

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.