DHT Holdings, Inc. (DHT) (After Q2’2016) for Thursday 8/11/2016

 

 Homework After DHT’s Q2’2016  reporting 

(Also see:  Before (Homework Part 1)    with more homework on fundamentals to follow)

In checking back through my blogs, I do not see that I have published any of my drafts, or notes, on   DHT Holdings, Inc. (DHT).    So this will be the DHT Holdings, Inc. (DHT) Part 2 introduction plus  Homework Part 1,   or what things looked like after DHT reported  second quarter, Q2’2016 earnings  after the markets closed Tuesday, and after DHT  held its Financial Call Wednesday morning .   Part 1 thru 3 will cover Select Metrics, Observations, Analysis, and Opinions (IMHO) of DHT Holdings (DHT)  Daily, Weekly, Monthly, (d-w-m) chart activity through Tuesday’s (8/9/2016) close at  $4.80. 

I am preparing this three part blog to show that Mr. & Ms. Fickle Markets do not always price stocks right.   If, you do your own homework, there are opportunities to take advantage of Mr. & Ms. Fickle Markets’ stock pricing mistakes.

 

 I.  About DHT Holdings, Inc.


   Per DHT Holdings, Inc. (DHT):   “DHT is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the Very Large Crude Carrier (VLCC) and Aframax segments. We operate through our integrated management companies in Oslo, Norway and Singapore. You shall recognize us by our business approach with an experienced organization with focus on first rate operations and customer service, quality ships built at quality shipyards, prudent capital structure with robust cash break even levels to accommodate staying power through the business cycles, a combination of market exposure and fixed income contracts for our fleet and a transparent corporate structure maintaining a high level of integrity and good governance.  For further information: www.dhtankers.com.”

DHT Home    or  Link:   http://www.dhtankers.com/index.php

 II.  DHT Holdings, Inc. second quarter 2016 results
 http://www.dhtankers.com/index.php?id=441&pressrelease=2034055.html
   II. a.  EARNINGS CONFERENCE CALL AND WEBCAST INFORMATION
DHT Holdings, Inc. hosted a conference call and webcast which included a slide presentation at 8:00 a.m. EDT/14:00 CEST on Wednesday August 10, 2016 to discuss the results for the quarter.
The webcast which included a slide presentation will be available on the following link:
and can also be accessed in the Investor Relations section on DHT’s website at
An audio replay of the conference call will be available through August 16, 2016.  To access the replay, dial 1 347 366 9565 within the United States, 21000498 within Norway or +44 20 3427 0598 for international callers and enter 486962# as the pass code.
            —————-

  II. B.   Highlights of the DHT Holdings, Inc. Q2’2016 quarter:

  • EBITDA for the quarter of $63.7 million and net income of $35.6 million ($0.38 per basic share).
  • The Company’s VLCCs operating in the spot market achieved time charter equivalent earnings of $53,340 per day in the second quarter of 2016.
  • The Company will pay a dividend of $0.23 per common share for the quarter payable on August 31, 2016 for shareholders of record as of August 24, 2016 which equates to 60% of net income.
  • During the quarter the company extended the time charter for the DHT Amazon to an oil major from mid-June 2016 until mid-October 2017 at a rate of $44,100 per day.
  • In Q2 2016 the Company sold the DHT Target, a 2001 built Suezmax for $22.5 million and the vessel was delivered to the buyers in May 2016.  The sale is in support of the company’s fleet renewal program and took place during a period in which four VLCC newbuildings have been delivered since November 2015 and two further VLCC newbuildings will be delivered by October 2016.
  • During the quarter the Company prepaid $16.1 million of bank debt and repurchased $1.0 million of its convertible senior notes due 2019 in the open market at a price of 99% of par.  Over the past twelve months, the Company has prepaid a total of $121.0 million of bank debt and repurchased a total of $4.0 million under the convertible senior notes.
  • On August 5, 2016 the Company took delivery of the fourth of its six VLCC newbuildings from Hyundai Heavy Industries (HHI).  The vessel is named the DHT Panther and is trading in the spot market.  A total of $43.5 million of debt was drawn in connection with the delivery. The remaining two newbuildings will be delivered in August and October 2016 and are expected to contribute meaningfully to the company’s earnings power. The newbuildings are fully financed. Hence no new equity will be issued in connection with this fleet expansion.
  • DHT has a fleet of 20 VLCCs (including two under construction) and two Aframaxes. Of the 20 vessels in operation, six of the VLCCs and the two Aframaxes are on fixed rate time charters. For more details on the fleet, please refer to our web site:

 

  •     —————————————-
 II. c.   DHT Holdings, Inc. (DHT) Select metrics
  • 52wk high:  8.52
  • 52wk low:  4.49
  • EPS:  1.13
  • PE (ttm):  4.25
  • Div Rate:  0.92
  • Yield:   19.17%
  • Market Cap:  $445.97m
  • Volume:   5,740,499
         —————————————-

 III.  DHT Holdings(DHT)  Daily, Weekly, Monthly, (d-w-m) Charts

  Before we get to the charts, for those not familiar with my Pivot Point (PP), Supports (s1, s2) and Resistance (r1, r2) “myPPt-Sup-Res”  daily, weekly, monthly (d-w-m) chart analysis, …
  The first hardest thing to do is to figure out when to buy.  So I back test securities against hundreds of indicators, and then pick the half dozen that (1) produce the most points (i.e. cash), with the (2) most accuracy, i.e. the most profitable trades vs the fewest loosing trades), and then I look for Buy/Sell/Short agreement, as well as Contrarian Buy/Sell/Short indications.   Before I include a prospective indicator in my layout I look at its performance … numbers like these:
  • Trade Efficiency
  • Average Entry 53.43 %
  • Average Exit 97.04 %
  • Average Total 50.47 %
  •  
  • Average Long Entry 48.03 %
  • Average Long Exit 97.77 %
  • Average Long Total 45.80 %
  •  
  • Average Short Entry 61.99 %
  • Average Short Exit 95.88 %
  • Average Short Total 57.87 %
  • Profitable Trades
  • Total 59    Long 36   Short 23
  • Unprofitable Trades
  • Total 3   Long 2   Short 1
  The second hardest thing to do is to figure out when to sell (I do not short, but I do pay attention to sell/short suggestions)  so, from the above numbers myPPt-Sup-Res Indicator is only fair and needs help in picking buys; but, in the 24 Selling/Shorting  opportunities in trading DHT, 95.88% to 97.77% accuracy is OUTSTANDING.  Getting out is clearly not going to be a problem unless I don’t pay attention to the results …
                        ——————
  III. a.     DHT Holdings(DHT)  Daily, Weekly, Monthly, (d-w-m) Charts
Observation, Analysis, and Opinions (IMHO) of DHT Holdings (DHT)  Daily, Weekly, Monthly, (d-w-m) chart activity through Wednesday’s (8/10/2016) close at  $5.14
   The current trend is up and all orders on the long side may be considered.  If already holding long positions, look to take partial profits on any retracement to 4.49.   Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of 4.49.   Be prepared for a potential short term price pull back to the 4.89 area.
   Suggested placement of capital conserving stops:
If Long, exit all contracts at …      4.49
If Short, exit all contracts at …      5.20
   ——
—–
dht 20160810d  Chart #1 (above, daily, PP-Sup-Res)   DHT Holdings (DHT)
  •   :: Pivot point   5.12
  •   Support (s1)  5.05       Support (s2)  4.95
  •   Resistance (r1) 5.22   Resistance (r2)  5.29
  •   Simple Moving Average (Close 50):   $5.05    (uptrend)
  •   Simple Moving Average (Close 200):  $6.08   (downtrend)
Additional DHT Holdings (DHT) DAILY chart info:
  • Overall, the bias in prices is: Downwards.
  • Short term: Prices are stalling.
  • Intermediate term: Prices are trending.
  • The upper projected target is: 5.52.
  • The lower projected target is: 4.75.
  • The projected closing price is: 5.13.
Note: these DHT Holdings (DHT) Daily price projections are calculated from previous trading activity and therefore for reference only, and can be easily exceeded, up or down,  by Mr. & Ms. Fickle Markets.  Sorry, past performance is no guarantee of future similar results.
 
   ——
dht 20160810w
   Chart #2 (above, weekly, PP-Sup-Res)   DHT Holdings (DHT)
  •   :: Pivot point   5.04
  •   Support (s1)  4.89       Support (s2)  4.63
  •   Resistance (r1) 5.30   Resistance (r2)  5.45
  •   Simple Moving Average (Close 50):   $6.36   (downtrend)
  •   Simple Moving Average (Close 200):  $6.22   (downtrend)
Additional DHT Holdings (DHT) Weekly chart info:
  • Overall, the bias in prices is: Downwards.
  • Short term: Prices are moving.
  • Intermediate term: Prices are trending.
  • Note (1): this chart shows extraordinary price action to the downside.
  • Note (2): prices are vulnerable to a correction towards 6.34.
  • The upper projected target is: 6.24.
  • The lower projected target is: 3.95.
  • The projected closing price is: 5.10.
Note: these DHT Holdings (DHT) Weekly price projections are calculated from previous trading activity and therefore for reference only, and can be easily exceeded, up or down,  by Mr. & Ms. Fickle Markets.  Sorry, past performance is no guarantee of future similar results.
     —–
dht 20160810m
   Chart #3 (above, monthly, PP-Sup-Res) DHT Holdings (DHT)  Monthly  Monday 8/1/2016 to Wednesday 8/31/2016
  •   :: Pivot point   4.94
  •   Support (s1)  4.69       Support (s2)  4.23
  •   Resistance (r1) 5.40   Resistance (r2)  5.65
  •   Simple Moving Average (Close 50):   $6.17   (uptrend)
Additional DHT Holdings (DHT) Monthly chart info:
  • Overall, the bias in prices is: Downwards.
  • Short term: Prices are moving.
  • Intermediate term: Prices are trending.
  • Note: this chart shows extraordinary price action to the downside.
  • The upper projected target is: 7.18.
  • The lower projected target is: 3.00.
  • The projected closing price is: 5.09.

-–  Monday, 8/8/2016   thru    Friday 8/12/2016  ——

 

Correction, pullback, or Bear Market? Part 3

 

 

( x)   All Links can be opened in a new tab or new window …

  •  ( xi )  I will be returning and adding more related chart info including links to charts with  daily, weekly, and monthly (d-w-m) chart analysis

 

Please read:

 (1)  Research and Investing Disclaimer

 (2)  Investing and Trading

    It’s Black Friday for OPEC

[ More  Blogs ]

 

Hope the above  DHT Holdings (DHT)  calculations and charts for Wednesday 8/10/2016, as well as the rest of August 2016,   helps  your investing and trading planning today …

 

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