DHT (NYSE:DHT) Sees Unusually-High Trading Volume

Shares of DHT Holdings Inc (NYSE:DHT) saw unusually-strong trading volume on Friday . Approximately 143,717 shares were traded during mid-day trading, a decline of 86% from the previous session’s volume of 1,062,116 shares.The stock last traded at $6.06 and had previously closed at $6.07.

Several equities research analysts recently issued reports on DHT shares. Evercore ISI reiterated a “buy” rating and issued a $8.00 price target on shares of DHT in a research note on Thursday, August 8th. Zacks Investment Research cut DHT from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, ValuEngine cut DHT from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $6.90.

The company has a quick ratio of 0.98, a current ratio of 1.29 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $844.88 million, a P/E ratio of -24.12, a PEG ratio of 5.75 and a beta of 0.52. The firm has a 50 day moving average of $5.67 and a 200-day moving average of $5.47.

DHT (NYSE:DHT) last issued its quarterly earnings results on Tuesday, August 6th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $61.20 million during the quarter, compared to analysts’ expectations of $56.37 million. DHT had a positive return on equity of 1.10% and a negative net margin of 0.54%. The firm’s revenue for the quarter was up 77.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.20) earnings per share. As a group, research analysts expect that DHT Holdings Inc will post 0.21 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 22nd were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Wednesday, August 21st. DHT’s dividend payout ratio (DPR) is currently -32.00%.

Several hedge funds have recently modified their holdings of DHT. BNP Paribas Arbitrage SA boosted its stake in shares of DHT by 465.1% in the first quarter. BNP Paribas Arbitrage SA now owns 19,129 shares of the shipping company’s stock valued at $85,000 after buying an additional 15,744 shares during the period. SG Americas Securities LLC acquired a new position in DHT during the first quarter valued at approximately $71,000. Bienville Capital Management LLC acquired a new position in DHT during the first quarter valued at approximately $268,000. FMR LLC acquired a new position in DHT during the first quarter valued at approximately $821,000. Finally, DNB Asset Management AS raised its position in DHT by 792.4% during the second quarter. DNB Asset Management AS now owns 1,579,600 shares of the shipping company’s stock valued at $9,320,000 after purchasing an additional 1,402,600 shares in the last quarter. Institutional investors and hedge funds own 42.72% of the company’s stock.

About DHT (NYSE:DHT)

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of March 18, 2019, it had a fleet of 27 very large crude carriers with a capacity of 8,360,850 deadweight tons. The company was founded in 2005 and is headquartered in Hamilton, Bermuda.

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