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

DHT Holdings, Inc. (NYSE:DHT) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 7,710,000 shares, an increase of 11.7% from the August 31st total of 6,900,000 shares. Approximately 5.5% of the company’s stock are sold short. Based on an average trading volume of 2,120,000 shares, the short-interest ratio is presently 3.6 days.

DHT Stock Performance

Shares of DHT stock traded up $0.19 during midday trading on Tuesday, hitting $11.22. The company had a trading volume of 2,190,493 shares, compared to its average volume of 1,883,505. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 10.69 and a beta of -0.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.87 and a quick ratio of 2.33. The company’s 50 day simple moving average is $11.00 and its 200 day simple moving average is $11.38. DHT has a 52-week low of $9.28 and a 52-week high of $12.80.

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

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 9.63%. DHT’s dividend payout ratio (DPR) is presently 102.86%.

Analyst Upgrades and Downgrades

DHT has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price objective on shares of DHT from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Fearnley Fonds raised DHT to a “strong-buy” rating in a report on Friday. Finally, StockNews.com downgraded DHT from a “hold” rating to a “sell” rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.67.

Institutional Trading of DHT

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP raised its stake in shares of DHT by 2,494.6% during the 2nd quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after buying an additional 3,717 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of DHT in the first quarter valued at about $51,000. Summit Securities Group LLC acquired a new stake in shares of DHT in the second quarter valued at approximately $78,000. Point72 Hong Kong Ltd acquired a new stake in shares of DHT in the second quarter valued at approximately $80,000. Finally, Blue Trust Inc. increased its stake in shares of DHT by 41,626.3% during the 2nd quarter. Blue Trust Inc. now owns 7,928 shares of the shipping company’s stock worth $91,000 after purchasing an additional 7,909 shares in the last quarter. Institutional investors and hedge funds own 58.53% of the company’s stock.

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.