Stock Traders Purchase High Volume of Call Options on DHT (NYSE:DHT)

DHT Holdings, Inc. (NYSE:DHT) was the recipient of some unusual options trading activity on Thursday. Traders purchased 16,670 call options on the company. This represents an increase of 111% compared to the average daily volume of 7,903 call options.

Wall Street Analysts Forecast Growth

DHT has been the topic of several analyst reports. BTIG Research increased their price target on shares of DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Evercore lowered shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective for the company. in a research note on Wednesday, April 22nd. Weiss Ratings upgraded shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen raised shares of DHT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.33.

DHT Stock Down 0.8%

DHT opened at $17.87 on Friday. The firm has a market cap of $2.88 billion, a P/E ratio of 8.67 and a beta of -0.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.62 and a current ratio of 1.83. The business has a 50 day moving average price of $17.59 and a 200 day moving average price of $16.78. DHT has a twelve month low of $10.61 and a twelve month high of $20.55.

DHT (NYSE:DHT) last announced its quarterly earnings results on Tuesday, May 5th. The shipping company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. DHT had a return on equity of 27.54% and a net margin of 58.54%.The company had revenue of $157.20 million for the quarter, compared to the consensus estimate of $152.15 million. During the same quarter last year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 134.9% compared to the same quarter last year.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 14.3%. The ex-dividend date was Thursday, May 21st. This is a boost from DHT’s previous quarterly dividend of $0.41. DHT’s dividend payout ratio (DPR) is 124.27%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DHT. Redhawk Wealth Advisors Inc. boosted its holdings in DHT by 117.9% during the second quarter. Redhawk Wealth Advisors Inc. now owns 25,394 shares of the shipping company’s stock valued at $420,000 after acquiring an additional 13,738 shares during the period. Baron Wealth Management LLC increased its stake in shares of DHT by 7.4% in the second quarter. Baron Wealth Management LLC now owns 15,843 shares of the shipping company’s stock worth $262,000 after purchasing an additional 1,093 shares during the period. Rathbones Group PLC increased its stake in shares of DHT by 53.7% in the first quarter. Rathbones Group PLC now owns 15,750 shares of the shipping company’s stock worth $288,000 after purchasing an additional 5,500 shares during the period. Norris Financial Group LLC acquired a new position in shares of DHT during the 1st quarter worth about $316,000. Finally, Western Wealth Management LLC acquired a new position in shares of DHT during the 1st quarter worth about $46,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

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.