DHT
Owns and operates VLCC tankers for crude oil shipping on international routes.
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Profile
Owns and operates VLCC tankers that move crude oil on international routes, earning freight through spot voyages and time charters. An integrated management network oversees the vessels, while the single-class fleet concentrates results on crude-shipping demand, voyage distances, vessel supply, and charter rates.
Transports crude oil worldwide with an owned fleet devoted to very large crude carriers, or VLCCs. Revenue comes mainly from single-voyage spot charters and fixed-period time charters, supplemented by technical-management services. Subsidiary teams in Monaco, Norway, Singapore, and India run the fleet, with a wholly owned technical manager overseeing crewing, maintenance, inspections, and compliance.
Execution centers on vessel upkeep and fleet renewal, pairing sales of older ships with deliveries of more fuel-efficient newbuilds. A mix of spot employment and contracted charters combines market-rate exposure with periods of fixed income.
Results depend on crude-transport demand, voyage distances, vessel supply, bunker costs, and volatile charter rates. Operations also rely on ship financing and compliance with flag-state, classification, safety, sanctions, and environmental rules.
Company facts
Categories
Key statistics
Year to date +67.5% · Average volume (30d) 3.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Apr 22, 2026 | Evercore ISI Group | Downgrade | Outperform | In Line | ||
| Feb 4, 2026 | BTIG | Reiterate | Buy | $16 | $18 | |
| Oct 28, 2025 | Evercore ISI | Target | $13 | $15 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $1.18 | $1.22 | +3.4% | $247.2M | $255.0M | +3.2% | +2.69% |
| May 5, 2026Q1 FY26 | $0.62 | $1.01 | +63.7% | $152.1M | $157.2M | +3.3% | −0.84% |
| Feb 4, 2026Q4 FY25 | $0.41 | $0.41 | +1.1% | $116.0M | $117.8M | +1.6% | +2.08% |
| Oct 29, 2025Q3 FY25 | $0.17 | $0.28 | +60.9% | $79.1M | $107.3M | +35.6% | +0.38% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $118.6M | $128.3M | $107.3M | $143.9M | $186.5M | $285.0M | |
| Gross profit | $34.6M | $47.4M | $34.9M | $73.7M | $112.6M | $208.8M | |
| Operating income | $48.9M | $60.3M | $47.4M | $68.1M | $107.7M | $203.2M | |
| Net income | $44.1M | $56.1M | $44.8M | $66.1M | $164.5M | $198.3M | |
| Diluted EPS | $0.27 | $0.35 | $0.28 | $0.41 | $1.02 | $1.23 | |
| Gross margin | 29.2% | 37.0% | 32.5% | 51.2% | 60.4% | 73.3% | |
| Operating margin | 41.2% | 47.0% | 44.2% | 47.3% | 57.7% | 71.3% |
Fiscal years (4-quarter sums)FY21 $295.9M · FY22 $454.1M · FY23 $559.5M · FY24 $571.8M · FY25 $498.2M
Revenue by product · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $161.7M · Total debt $434.8M · Total assets $1.81B · Shareholders' equity $1.33B
Dividends
Last raised to $1.22 from $0.64 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 17, 2026 | Aug 17 | Aug 24 | $1.22 | raised from $0.64 |
| May 21, 2026 | May 21 | May 28 | $0.64 | raised from $0.41 |
| Feb 19, 2026 | Feb 19 | Feb 26 | $0.41 | raised from $0.18 |
| Nov 12, 2025 | Nov 12 | Nov 19 | $0.18 | cut from $0.24 |
| Aug 18, 2025 | Aug 18 | Aug 25 | $0.24 | raised from $0.15 |
| May 21, 2025 | May 21 | May 28 | $0.15 | cut from $0.17 |
| Feb 18, 2025 | Feb 18 | Feb 25 | $0.17 | cut from $0.22 |
| Nov 22, 2024 | Nov 22 | Nov 29 | $0.22 | cut from $0.27 |
Ownership
Shares outstanding 161.04M · Float 144.15M · 89.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 24.16M | 15.00% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 10.52M | 6.53% | 13F | Aug 7, 2026 |
| Dimensional Fund Advisors LP | 10.03M | 6.20% | 13G | Jul 14, 2026 |
| BW Group Ltd | 9.26M | 5.76% | 13D | Mar 12, 2026 |
| Dme Capital Management, LP | 5.03M | 3.13% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | Jon Stephen Eglin | officer: Chartering & Operations | −25,000 | $20.35 |
| Aug 21, 2026 | Sophie Rossini | director | −33,000 | $20.04 |
| Aug 21, 2026 | Svenn Magne Edvardsen | officer: Technical Director | −341,007 | $20.29 |
| Aug 20, 2026 | Laila Cecilie Halvorsen | officer: Chief Financial Officer | −50,000 | $20.00 |
| Aug 19, 2026 | Jon Stephen Eglin | officer: Chartering & Operations | −50,000 | $19.99 |
Peers
- Frontline
Larger VLCC owner competing for crude-tanker charters
- International Seaways
Public tanker peer across VLCC and broader tanker classes
- Okeanis Eco Tankers (ADR)
Modern VLCC/Suezmax fleet overlaps directly in crude shipping
- CMB.TECH (ADR)
Diversified maritime group retaining crude-tanker exposure
- Tsakos Energy Navigation
Diversified tanker operator with VLCC and Suezmax overlap
- Teekay Tankers
Crude-tanker peer with Suezmax, Aframax/LR2, and one VLCC
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| DHT | $19.77 | +0.56% | $3.17B | 6.7 | 6.9 | 4.4 | +98.7% |
| Frontline | $44.22 | +0.12% | $9.84B | 6.6 | 9.1 | 3.6 | +56.9% |
| International Seaways | $100.00 | +1.19% | $4.89B | 6.3 | 10.8 | 3.9 | +121.9% |
| Okeanis Eco Tankers (ADR) | $67.05 | +0.32% | $2.19B | 6.2 | 6.1 | 3.6 | +185.4% |
| CMB.TECH (ADR) | $18.35 | +0.05% | $5.32B | 6.3 | 11.4 | 2.4 | +78.0% |
| Tsakos Energy Navigation | $42.52 | −0.12% | $1.28B | 6.9 | 6.1 | 1.5 | — |
| Teekay Tankers | $88.70 | +0.07% | $3.07B | 5.2 | 6.3 | 2.7 | +10.9% |
| Median | 6.3 | 7.7 | 3.1 | +78.0% |