DHT Holdings, Inc. (NYSE:DHT) Short Interest Down 5.8% in December

DHT Holdings, Inc. (NYSE:DHT) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 5,330,000 shares, a decrease of 5.8% from the November 30th total of 5,660,000 shares. Based on an average daily volume of 1,670,000 shares, the days-to-cover ratio is currently 3.2 days. Approximately 3.8% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

DHT has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Stifel Nicolaus lowered their target price on shares of DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Fearnley Fonds raised DHT to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group reiterated a “buy” rating and set a $14.00 price objective on shares of DHT in a report on Wednesday, November 13th. Finally, BTIG Research started coverage on DHT in a research note on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price on the stock. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.54.

DHT Stock Performance

DHT stock traded up $0.11 during trading on Wednesday, hitting $9.29. 801,532 shares of the company traded hands, compared to its average volume of 1,818,758. DHT has a 1 year low of $8.67 and a 1 year high of $12.80. The company has a market cap of $1.50 billion, a PE ratio of 9.29 and a beta of -0.37. The stock’s 50-day simple moving average is $9.83 and its 200 day simple moving average is $10.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97.

DHT (NYSE:DHT) last posted its earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. DHT had a net margin of 27.72% and a return on equity of 15.58%. The firm had revenue of $92.64 million during the quarter, compared to analyst estimates of $87.51 million. During the same period in the previous year, the firm earned $0.19 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities analysts expect that DHT will post 1 earnings per share for the current fiscal year.

DHT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 9.47%. The ex-dividend date of this dividend was Friday, November 22nd. DHT’s dividend payout ratio (DPR) is presently 88.00%.

Hedge Funds Weigh In On DHT

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in DHT by 12.4% during the second quarter. Bank of New York Mellon Corp now owns 466,751 shares of the shipping company’s stock worth $5,400,000 after acquiring an additional 51,522 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of DHT during the 2nd quarter worth about $376,000. Principal Financial Group Inc. lifted its stake in DHT by 8.6% in the 2nd quarter. Principal Financial Group Inc. now owns 81,471 shares of the shipping company’s stock valued at $943,000 after buying an additional 6,454 shares in the last quarter. Foundry Partners LLC purchased a new position in DHT in the 2nd quarter valued at about $506,000. Finally, Gentry Private Wealth LLC acquired a new stake in DHT in the 2nd quarter worth about $386,000. Hedge funds and other institutional investors own 58.53% of the company’s stock.

DHT Company Profile

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.