Traders Buy High Volume of DHT Call Options (NYSE:DHT)

DHT Holdings, Inc. (NYSE:DHT) saw unusually large options trading activity on Wednesday. Stock traders acquired 6,036 call options on the stock. This represents an increase of 445% compared to the average volume of 1,108 call options.

Analysts Set New Price Targets

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

DHT Stock Up 1.9 %

Shares of DHT opened at $11.89 on Thursday. DHT has a 52 week low of $7.91 and a 52 week high of $12.80. The firm has a market cap of $1.92 billion, a P/E ratio of 11.32 and a beta of -0.32. The firm’s 50-day simple moving average is $11.80 and its 200 day simple moving average is $11.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.69 and a current ratio of 3.30.

DHT (NYSE:DHT) last announced its quarterly earnings results on Tuesday, May 14th. The shipping company reported $0.29 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 during the quarter, compared to analyst estimates of $106.87 million. During the same quarter last year, the company posted $0.23 EPS. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. On average, analysts forecast that DHT will post 1.49 earnings per share for the current year.

DHT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 24th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 9.76%. 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. DHT’s dividend payout ratio is presently 110.48%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DHT. Schonfeld Strategic Advisors LLC grew its position in shares of DHT by 4,118.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 2,670,200 shares of the shipping company’s stock worth $27,503,000 after purchasing an additional 2,606,900 shares in the last quarter. Greenlight Capital Inc. grew its position in shares of DHT by 86.7% during the 4th quarter. Greenlight Capital Inc. now owns 3,779,880 shares of the shipping company’s stock worth $37,081,000 after purchasing an additional 1,755,060 shares in the last quarter. M&G Plc bought a new stake in shares of DHT during the 1st quarter worth approximately $16,417,000. M&G Investment Management Ltd. bought a new stake in shares of DHT during the 4th quarter worth approximately $11,223,000. Finally, Significant Wealth Partners LLC bought a new stake in shares of DHT during the 4th quarter worth approximately $4,640,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

About DHT

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.