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

DHT Holdings, Inc. (NYSE:DHT) saw a significant 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 short-interest ratio is currently 3.4 days. Currently, 5.0% of the shares of the company are short sold.

Analyst Ratings Changes

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

DHT Stock Performance

DHT opened at $11.21 on Thursday. DHT has a 1-year low of $9.28 and a 1-year high of $12.80. The stock has a market cap of $1.81 billion, a P/E ratio of 10.67 and a beta of -0.36. The stock’s 50 day simple moving average is $11.04 and its 200 day simple moving average is $11.38. 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 (NYSE:DHT) last issued its quarterly earnings data on Monday, August 12th. The shipping company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The business had revenue of $103.70 million for the quarter, compared to analysts’ expectations of $102.75 million. DHT had a return on equity of 15.19% and a net margin of 27.45%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the business earned $0.35 earnings per share. As a group, equities analysts anticipate that DHT will post 1.14 EPS for the current fiscal year.

DHT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 9.64%. The ex-dividend date was Friday, August 23rd. DHT’s dividend payout ratio (DPR) is 102.86%.

Hedge Funds Weigh In On DHT

Several institutional investors have recently added to or reduced their stakes in the business. Greenlight Capital Inc. grew its holdings in DHT by 86.7% in the 4th quarter. Greenlight Capital Inc. now owns 3,779,880 shares of the shipping company’s stock valued at $37,081,000 after buying an additional 1,755,060 shares during the period. Acadian Asset Management LLC boosted its position in shares of DHT by 43.8% in the second quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock worth $39,184,000 after acquiring an additional 1,032,832 shares during the last quarter. American Century Companies Inc. increased its position in 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. LSV Asset Management boosted its holdings in shares of DHT by 28.8% in the 2nd quarter. LSV Asset Management now owns 1,534,614 shares of the shipping company’s stock valued at $17,755,000 after purchasing an additional 343,100 shares during the last quarter. Finally, M&G Plc purchased a new position in shares of DHT in the 1st quarter worth $16,417,000. 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.