DHT Holdings, Inc. (NYSE:DHT) Short Interest Down 7.9% in October

DHT Holdings, Inc. (NYSE:DHT) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 6,780,000 shares, a decrease of 7.9% from the October 15th total of 7,360,000 shares. Currently, 4.9% of the company’s stock are short sold. Based on an average daily trading volume, of 1,790,000 shares, the short-interest ratio is currently 3.8 days.

Analysts Set New Price Targets

A number of analysts have weighed in on DHT shares. StockNews.com upgraded shares of DHT from a “sell” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus decreased their target price on shares of DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. BTIG Research initiated coverage on shares of DHT in a research note on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price on the stock. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $14.00 target price on shares of DHT in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DHT. FMR LLC increased its holdings in shares of DHT by 10.0% in the 3rd quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock worth $266,849,000 after acquiring an additional 2,195,916 shares during the period. Wasatch Advisors LP bought a new stake in shares of DHT in the 3rd quarter worth approximately $55,472,000. Acadian Asset Management LLC increased 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 in the last quarter. American Century Companies Inc. increased its position in shares of DHT by 43.8% in the second quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock worth $33,183,000 after acquiring an additional 873,356 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of DHT by 15.7% in the third quarter. Two Sigma Advisers LP now owns 2,102,800 shares of the shipping company’s stock worth $23,194,000 after acquiring an additional 284,900 shares in the last quarter. Hedge funds and other institutional investors own 58.53% of the company’s stock.

DHT Stock Up 2.8 %

NYSE DHT traded up $0.29 during midday trading on Monday, hitting $10.75. 1,366,559 shares of the company traded hands, compared to its average volume of 1,825,607. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 2.33. The company has a market cap of $1.73 billion, a PE ratio of 10.75 and a beta of -0.36. The company’s 50-day simple moving average is $10.92 and its 200-day simple moving average is $11.27. DHT has a 52 week low of $9.28 and a 52 week high of $12.80.

DHT (NYSE:DHT) last posted its quarterly earnings data on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. DHT had a return on equity of 15.58% and a net margin of 27.72%. The company had revenue of $92.64 million during the quarter, compared to analyst estimates of $87.51 million. During the same period in the previous year, the business earned $0.19 EPS. DHT’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that DHT will post 1 earnings per share for the current year.

DHT Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 22nd will be issued a $0.22 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 8.19%. DHT’s dividend payout ratio is presently 108.00%.

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.