DHT Holdings, Inc. (NYSE:DHT) Short Interest Update

DHT Holdings, Inc. (NYSE:DHT) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 6,780,000 shares, a drop of 7.9% from the October 15th total of 7,360,000 shares. Based on an average daily volume of 1,790,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 4.9% of the shares of the company are sold short.

DHT Trading Up 2.8 %

DHT stock traded up $0.29 during midday trading on Monday, hitting $10.75. 1,366,559 shares of the stock were exchanged, compared to its average volume of 1,825,607. The stock has a market capitalization of $1.73 billion, a PE ratio of 10.74 and a beta of -0.36. The company has a quick ratio of 2.33, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $10.92 and a two-hundred day simple moving average of $11.27. DHT has a 52 week low of $9.28 and a 52 week high of $12.80.

DHT (NYSE:DHT) last issued its quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $92.64 million during the quarter, compared to the consensus estimate of $87.51 million. DHT had a net margin of 27.72% and a return on equity of 15.58%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Equities research analysts anticipate that DHT will post 1 EPS for the current fiscal year.

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 22nd will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 8.19%. The ex-dividend date of this dividend is Friday, November 22nd. DHT’s dividend payout ratio is 108.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. FMR LLC grew its stake in shares of DHT by 10.0% during the 3rd quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock worth $266,849,000 after acquiring an additional 2,195,916 shares in the last quarter. Wasatch Advisors LP acquired a new stake in DHT in the 3rd quarter valued at $55,472,000. Acadian Asset Management LLC lifted its position in DHT by 43.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock worth $39,184,000 after buying an additional 1,032,832 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of DHT by 43.8% during the 2nd quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock worth $33,183,000 after buying an additional 873,356 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of DHT by 15.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,102,800 shares of the shipping company’s stock valued at $23,194,000 after acquiring an additional 284,900 shares in the last quarter. 58.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. StockNews.com raised shares of DHT from a “sell” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus reduced their price target on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. BTIG Research assumed coverage on DHT in a research note on Tuesday, October 15th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $14.00 price objective on shares of DHT in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, DHT currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

About DHT

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.