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

DHT Holdings, Inc. (NYSE:DHT) saw a large decline in short interest in 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. Approximately 4.9% of the company’s stock are sold short. Based on an average trading volume of 1,790,000 shares, the short-interest ratio is currently 3.8 days.

DHT Stock Performance

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

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

DHT Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 22nd will be paid 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 is Friday, November 22nd. DHT’s dividend payout ratio is currently 108.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. BTIG Research began coverage on DHT in a report on Tuesday, October 15th. They set a “buy” rating and a $16.00 price target for the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $14.00 price objective on shares of DHT in a research report on Wednesday, November 13th. Stifel Nicolaus cut their target price on DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Finally, StockNews.com raised DHT from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.50.

Institutional Inflows and Outflows

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

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.