Short Interest in DHT Holdings, Inc. (NYSE:DHT) Decreases By 6.3%

DHT Holdings, Inc. (NYSE:DHT) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 6,900,000 shares, a decrease of 6.3% from the August 15th total of 7,360,000 shares. Based on an average trading volume of 2,040,000 shares, the days-to-cover ratio is currently 3.4 days. Currently, 5.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. StockNews.com downgraded DHT from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Stifel Nicolaus increased their target price on DHT from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.67.

Hedge Funds Weigh In On DHT

Several large investors have recently added to or reduced their stakes in the company. Greenlight Capital Inc. raised its holdings in shares of DHT by 86.7% in the 4th quarter. Greenlight Capital Inc. now owns 3,779,880 shares of the shipping company’s stock worth $37,081,000 after buying an additional 1,755,060 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of DHT in the 4th quarter worth approximately $760,000. Russell Investments Group Ltd. raised its holdings in shares of DHT by 8.7% in the 1st quarter. Russell Investments Group Ltd. now owns 619,634 shares of the shipping company’s stock worth $7,126,000 after buying an additional 49,657 shares in the last quarter. Boston Partners raised its holdings in shares of DHT by 74.6% in the 1st quarter. Boston Partners now owns 163,512 shares of the shipping company’s stock worth $1,880,000 after buying an additional 69,838 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in DHT during the 1st quarter valued at $1,602,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

DHT Price Performance

Shares of NYSE:DHT opened at $11.31 on Friday. The business has a 50 day moving average price of $11.05 and a 200 day moving average price of $11.38. DHT has a twelve month low of $9.28 and a twelve month high of $12.80. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 10.77 and a beta of -0.36. The company has a quick ratio of 2.33, a current ratio of 2.87 and a debt-to-equity ratio of 0.36.

DHT (NYSE:DHT) last posted its quarterly earnings results on Monday, August 12th. The shipping company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $103.70 million during the quarter, compared to analyst estimates of $102.75 million. DHT had a net margin of 27.45% and a return on equity of 15.19%. The company’s revenue was down 8.2% on a year-over-year basis. During the same period last year, the company earned $0.35 EPS. Research analysts predict that DHT will post 1.14 earnings per share for the current year.

DHT Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were issued a $0.27 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.08 annualized dividend and a yield of 9.55%. DHT’s dividend payout ratio (DPR) is 102.86%.

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.