DHT Holdings, Inc. (NYSE:DHT) Sees Significant Drop in Short Interest

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

DHT Trading Down 0.7 %

Shares of DHT traded down $0.08 during trading on Tuesday, reaching $10.66. 348,823 shares of the company traded hands, compared to its average volume of 1,818,903. The stock has a 50-day simple moving average of $10.92 and a 200-day simple moving average of $11.27. The stock has a market cap of $1.72 billion, a PE ratio of 10.75 and a beta of -0.36. DHT has a twelve month low of $9.28 and a twelve month high of $12.80. The company has a quick ratio of 1.97, a current ratio of 2.41 and a debt-to-equity ratio of 0.35.

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 the consensus estimate of $87.51 million. During the same quarter last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts anticipate that DHT will post 1 earnings per share for the current year.

DHT Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 22nd will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 8.26%. The ex-dividend date of this dividend is Friday, November 22nd. DHT’s dividend payout ratio (DPR) is 108.00%.

Hedge Funds Weigh In On DHT

Several institutional investors have recently bought and sold shares of DHT. Quarry LP boosted its stake in shares of DHT by 2,494.6% in the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock valued at $45,000 after purchasing an additional 3,717 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of DHT during the third quarter worth $50,000. Nisa Investment Advisors LLC raised its stake in shares of DHT by 52.2% in the third quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock valued at $76,000 after acquiring an additional 2,361 shares in the last quarter. Summit Securities Group LLC purchased a new position in DHT in the second quarter valued at $78,000. Finally, Point72 Hong Kong Ltd purchased a new stake in DHT during the 2nd quarter worth about $80,000. 58.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Jefferies Financial Group reissued a “buy” rating and issued a $14.00 price objective on shares of DHT in a research note on Wednesday, November 13th. BTIG Research assumed coverage on shares of DHT in a research note on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price target on the stock. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. Stifel Nicolaus cut their price target on DHT from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of DHT from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

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.