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

DHT Holdings, Inc. (NYSE:DHT) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 5,330,000 shares, a decline of 5.8% from the November 30th total of 5,660,000 shares. Based on an average daily trading volume, of 1,670,000 shares, the short-interest ratio is currently 3.2 days. Approximately 3.8% of the company’s stock are sold short.

Institutional Investors Weigh In On DHT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP raised its holdings in DHT by 2,494.6% during the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock valued at $45,000 after acquiring an additional 3,717 shares during the period. Sunbelt Securities Inc. bought a new stake in DHT during the 3rd quarter valued at approximately $50,000. Nisa Investment Advisors LLC lifted its holdings in DHT by 52.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock worth $76,000 after purchasing an additional 2,361 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in DHT in the 2nd quarter worth approximately $80,000. Finally, Soros Fund Management LLC purchased a new stake in DHT during the 3rd quarter valued at approximately $114,000. 58.53% of the stock is owned by hedge funds and other institutional investors.

DHT Stock Performance

DHT stock traded up $0.11 during mid-day trading on Wednesday, reaching $9.29. 801,532 shares of the stock traded hands, compared to its average volume of 1,818,758. DHT has a 12-month low of $8.67 and a 12-month high of $12.80. The stock has a market capitalization of $1.50 billion, a PE ratio of 9.29 and a beta of -0.37. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 1.97. The business’s 50-day moving average is $9.83 and its 200-day moving average is $10.70.

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

DHT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 22nd were paid a dividend of $0.22 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 9.47%. DHT’s dividend payout ratio (DPR) is presently 88.00%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a research report on Friday, September 27th. Stifel Nicolaus cut their price target on shares of DHT from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Jefferies Financial Group reissued a “buy” rating and set a $14.00 price target on shares of DHT in a research report on Wednesday, November 13th. StockNews.com raised DHT from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Kepler Capital Markets lowered DHT from a “buy” rating to a “hold” rating and set a $9.70 target price for the company. in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.54.

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.