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

DHT Holdings, Inc. (NYSE:DHT) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 6,036 call options on the stock. This represents an increase of approximately 445% compared to the average volume of 1,108 call options.

DHT Trading Up 1.9 %

Shares of DHT opened at $11.89 on Thursday. The company’s fifty day moving average is $11.80 and its 200 day moving average is $11.21. DHT has a fifty-two week low of $7.91 and a fifty-two week high of $12.80. The stock has a market capitalization of $1.92 billion, a PE ratio of 11.32 and a beta of -0.32. 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 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). DHT had a return on equity of 16.34% and a net margin of 29.58%. The business had revenue of $106.30 million during the quarter, compared to the consensus estimate of $106.87 million. During the same quarter in the prior year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. Sell-side analysts expect that DHT will post 1.49 earnings per share for the current fiscal year.

DHT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 24th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 9.76%. The ex-dividend date was Thursday, May 23rd. This is a boost from DHT’s previous quarterly dividend of $0.22. DHT’s payout ratio is currently 110.48%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On DHT

Large investors have recently bought and sold shares of the business. Greenlight Capital Inc. increased its position in DHT by 86.7% during the fourth quarter. Greenlight Capital Inc. now owns 3,779,880 shares of the shipping company’s stock valued at $37,081,000 after acquiring an additional 1,755,060 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in DHT during the fourth quarter valued at $760,000. Dimensional Fund Advisors LP increased its position in DHT by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,361,401 shares of the shipping company’s stock valued at $131,076,000 after acquiring an additional 76,464 shares during the last quarter. Capital Performance Advisors LLP bought a new position in DHT during the fourth quarter valued at $98,000. Finally, Trexquant Investment LP bought a new position in DHT during the fourth quarter valued at $2,756,000. Institutional investors own 58.53% of the company’s stock.

DHT Company Profile

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.