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

DHT Holdings, Inc. (NYSE:DHT) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 3,510,000 shares, a growth of 31.5% from the February 29th total of 2,670,000 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average daily trading volume, of 1,960,000 shares, the short-interest ratio is presently 1.8 days.

DHT Trading Up 0.7 %

Shares of DHT stock opened at $11.50 on Monday. The company’s fifty day simple moving average is $11.06 and its two-hundred day simple moving average is $10.56. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.54 and a quick ratio of 2.94. DHT has a 1 year low of $7.30 and a 1 year high of $11.90. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 11.62 and a beta of -0.33.

DHT (NYSE:DHT) last released its quarterly earnings results on Tuesday, February 6th. The shipping company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $94.50 million for the quarter, compared to analysts’ expectations of $95.78 million. DHT had a net margin of 28.78% and a return on equity of 15.52%. The business’s quarterly revenue was down 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. As a group, analysts anticipate that DHT will post 1.53 earnings per share for the current year.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 21st were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 7.65%. The ex-dividend date was Tuesday, February 20th. This is a boost from DHT’s previous quarterly dividend of $0.19. DHT’s dividend payout ratio is currently 88.89%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DHT shares. Truist Financial lifted their price target on DHT from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 16th. TheStreet upgraded DHT from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Finally, Jefferies Financial Group upgraded DHT from a “hold” rating to a “buy” rating and lifted their price target for the company from $11.00 to $14.00 in a research note on Thursday, March 21st. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, DHT presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DHT. FMR LLC boosted its position in DHT by 42.5% during the third quarter. FMR LLC now owns 16,122,321 shares of the shipping company’s stock valued at $166,060,000 after buying an additional 4,808,258 shares during the period. Millennium Management LLC boosted its position in DHT by 8,080.0% during the fourth quarter. Millennium Management LLC now owns 4,523,219 shares of the shipping company’s stock valued at $40,166,000 after buying an additional 4,467,923 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in DHT by 4,118.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 2,670,200 shares of the shipping company’s stock valued at $27,503,000 after buying an additional 2,606,900 shares during the period. Greenlight Capital Inc. boosted its position in DHT by 86.7% during the fourth 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. Finally, BlackRock Inc. boosted its position in DHT by 22.1% during the second quarter. BlackRock Inc. now owns 9,570,402 shares of the shipping company’s stock valued at $81,636,000 after buying an additional 1,731,800 shares during the period. Institutional investors own 58.53% of the company’s stock.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. As of March 16, 2023, it had a fleet of 23 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.