Stock Traders Buy Large Volume of DHT Put Options (NYSE:DHT)

by · The Markets Daily

DHT Holdings, Inc. (NYSE:DHT – Get Free Report) saw some unusual options trading activity on Wednesday. Traders purchased 10,920 put options on the company. This represents an increase of 468% compared to the typical volume of 1,921 put options.

Hedge Funds Weigh In On DHT

Hedge funds have recently made changes to their positions in the company. Martingale Asset Management L P boosted its stake in shares of DHT by 0.6% in the first quarter. Martingale Asset Management L P now owns 165,461 shares of the shipping company’s stock worth $1,737,000 after acquiring an additional 970 shares during the last quarter. First Trust Advisors LP lifted its holdings in DHT by 0.6% in the 2nd quarter. First Trust Advisors LP now owns 177,393 shares of the shipping company’s stock valued at $1,918,000 after purchasing an additional 1,114 shares in the last quarter. Federated Hermes Inc. boosted its stake in DHT by 101.6% during the 3rd quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,368 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of DHT by 91.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after buying an additional 1,596 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in shares of DHT by 4.5% during the second quarter. Osaic Holdings Inc. now owns 37,567 shares of the shipping company’s stock worth $406,000 after buying an additional 1,634 shares in the last quarter. Institutional investors and hedge funds own 58.53% of the company’s stock.

DHT Price Performance

DHT stock traded up $0.27 during trading on Wednesday, reaching $12.78. The company had a trading volume of 625,750 shares, compared to its average volume of 1,778,343. The firm has a market capitalization of $2.05 billion, a PE ratio of 10.30 and a beta of -0.08. The firm’s 50-day simple moving average is $12.75 and its 200 day simple moving average is $11.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.02 and a current ratio of 2.41. DHT has a 1-year low of $8.76 and a 1-year high of $13.85.

DHT (NYSE:DHT – Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The shipping company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.11. DHT had a net margin of 41.17% and a return on equity of 17.05%. The business had revenue of $107.35 million for the quarter, compared to the consensus estimate of $78.83 million. During the same period last year, the firm posted $0.22 earnings per share. The company’s revenue was down 14.6% compared to the same quarter last year. As a group, equities research analysts anticipate that DHT will post 0.94 earnings per share for the current fiscal year.

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 5.6%. The ex-dividend date was Wednesday, November 12th. DHT’s payout ratio is 58.06%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and set a $16.00 price objective on shares of DHT in a research note on Thursday, October 30th. Wall Street Zen cut DHT from a “buy” rating to a “hold” rating in a research report on Saturday. BTIG Research reissued a “buy” rating and issued a $16.00 price target on shares of DHT in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DHT in a research note on Wednesday, October 8th. Finally, Evercore ISI boosted their target price on shares of DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.67.

View Our Latest Stock Report on DHT

About DHT

(Get Free Report)

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.

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