DHT Holdings, Inc. (NYSE:DHT) Short Interest Down 5.7% in March

DHT Holdings, Inc. (NYSE:DHT) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 3,310,000 shares, a decrease of 5.7% from the March 15th total of 3,510,000 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average trading volume of 1,890,000 shares, the short-interest ratio is currently 1.8 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. FMR LLC raised its position in DHT by 42.5% in the third quarter. FMR LLC now owns 16,122,321 shares of the shipping company’s stock worth $166,060,000 after acquiring an additional 4,808,258 shares during the period. Millennium Management LLC raised its position in DHT by 8,080.0% in the fourth quarter. Millennium Management LLC now owns 4,523,219 shares of the shipping company’s stock worth $40,166,000 after acquiring an additional 4,467,923 shares during the period. Schonfeld Strategic Advisors LLC raised its position in DHT by 4,118.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 2,670,200 shares of the shipping company’s stock worth $27,503,000 after acquiring an additional 2,606,900 shares during the period. Greenlight Capital Inc. raised its position in DHT by 86.7% in the fourth quarter. Greenlight Capital Inc. now owns 3,779,880 shares of the shipping company’s stock worth $37,081,000 after acquiring an additional 1,755,060 shares during the period. Finally, BlackRock Inc. raised its position in DHT by 22.1% in the second quarter. BlackRock Inc. now owns 9,570,402 shares of the shipping company’s stock worth $81,636,000 after acquiring an additional 1,731,800 shares during the period. 58.53% of the stock is owned by institutional investors.

DHT Stock Down 0.4 %

NYSE:DHT traded down $0.04 during trading hours on Wednesday, reaching $11.25. The company had a trading volume of 1,127,079 shares, compared to its average volume of 1,497,568. DHT has a twelve month low of $7.30 and a twelve month high of $11.95. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 11.36 and a beta of -0.33. The business’s 50-day simple moving average is $11.22 and its two-hundred day simple moving average is $10.71. The company has a quick ratio of 2.94, a current ratio of 3.54 and a debt-to-equity ratio of 0.39.

DHT (NYSE:DHT) last released its quarterly earnings data on Tuesday, February 6th. The shipping company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. DHT had a net margin of 28.78% and a return on equity of 15.52%. The firm had revenue of $94.50 million for the quarter, compared to analyst estimates of $95.78 million. During the same period last year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was down 19.0% compared to the same quarter last year. On average, equities analysts expect that DHT will post 1.53 earnings per share for the current year.

DHT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 21st were given a dividend of $0.22 per share. This is a positive change from DHT’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.82%. The ex-dividend date was Tuesday, February 20th. DHT’s dividend payout ratio (DPR) is presently 88.89%.

Wall Street Analyst Weigh In

Several brokerages recently commented on DHT. Jefferies Financial Group raised shares of DHT from a “hold” rating to a “buy” rating and increased their price objective for the company from $11.00 to $14.00 in a research note on Thursday, March 21st. TheStreet raised shares of DHT from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Finally, Truist Financial increased their price objective on shares of DHT from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, DHT has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

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.