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

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

Hedge Funds Weigh In On DHT

Several institutional investors have recently bought and sold shares of DHT. Sunbelt Securities Inc. acquired a new position in shares of DHT in the 3rd quarter valued at $50,000. Barclays PLC increased its position in DHT by 229.4% in the 3rd quarter. Barclays PLC now owns 188,899 shares of the shipping company’s stock valued at $2,083,000 after acquiring an additional 131,551 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of DHT during the 3rd quarter valued at $1,373,000. Y Intercept Hong Kong Ltd boosted its position in shares of DHT by 10.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 67,293 shares of the shipping company’s stock worth $742,000 after buying an additional 6,150 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in DHT during the third quarter valued at $264,000. 58.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DHT. StockNews.com upgraded DHT from a “sell” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus dropped their price objective 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. BTIG Research initiated coverage on shares of DHT in a report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price target for the company. 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. Finally, Fearnley Fonds upgraded shares of DHT to a “strong-buy” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, DHT presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

DHT Price Performance

Shares of DHT traded up $0.29 during mid-day trading on Monday, reaching $10.75. The stock had a trading volume of 1,366,559 shares, compared to its average volume of 1,825,607. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 10.75 and a beta of -0.36. DHT has a 12 month low of $9.28 and a 12 month high of $12.80. The business has a fifty day moving average of $10.92 and a 200 day moving average of $11.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.33 and a current ratio of 2.41.

DHT (NYSE:DHT) last issued its earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $92.64 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. Equities analysts predict that DHT will post 1 EPS for the current year.

DHT Cuts Dividend

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