Short Interest in DHT Holdings, Inc. (NYSE:DHT) Rises By 11.7%

DHT Holdings, Inc. (NYSE:DHT) was the recipient of a large 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. Currently, 5.5% of the shares of the stock are sold short. Based on an average daily volume of 2,120,000 shares, the short-interest ratio is presently 3.6 days.

Institutional Investors Weigh In On DHT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DHT. Point72 DIFC Ltd lifted its stake in DHT by 66.4% during the second quarter. Point72 DIFC Ltd now owns 11,237 shares of the shipping company’s stock worth $130,000 after purchasing an additional 4,485 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new position in DHT during the 2nd quarter valued at about $155,000. Truist Financial Corp acquired a new position in DHT in the 2nd quarter valued at about $460,000. Point72 Asset Management L.P. purchased a new stake in DHT during the second quarter worth about $456,000. Finally, Quarry LP increased its stake in DHT by 2,494.6% during the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after purchasing an additional 3,717 shares during the period. Hedge funds and other institutional investors own 58.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on DHT shares. StockNews.com lowered DHT from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Stifel Nicolaus upped their price objective on shares of DHT from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.67.

DHT Price Performance

DHT stock opened at $11.07 on Friday. The business has a 50 day simple moving average of $11.02 and a 200-day simple moving average of $11.37. The firm has a market capitalization of $1.79 billion, a PE ratio of 10.54 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. DHT has a 1 year low of $9.28 and a 1 year high of $12.80.

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

DHT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders 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 annualized dividend and a yield of 9.76%. DHT’s dividend payout ratio (DPR) is 102.86%.

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.