DHT Holdings, Inc. (NYSE:DHT) Short Interest Up 11.7% in September

DHT Holdings, Inc. (NYSE:DHT) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 7,710,000 shares, a growth of 11.7% from the August 31st total of 6,900,000 shares. Currently, 5.5% of the company’s stock are sold short. Based on an average trading volume of 2,120,000 shares, the days-to-cover ratio is currently 3.6 days.

DHT Stock Performance

NYSE:DHT opened at $11.07 on Friday. DHT has a 12 month low of $9.28 and a 12 month high of $12.80. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.87 and a quick ratio of 2.33. The firm has a market capitalization of $1.79 billion, a PE ratio of 10.54 and a beta of -0.36. The business’s fifty day moving average price is $11.02 and its 200 day moving average price is $11.37.

DHT (NYSE:DHT) last released its quarterly earnings data on Monday, August 12th. The shipping company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The business had revenue of $103.70 million during the quarter, compared to analysts’ expectations of $102.75 million. DHT had a net margin of 27.45% and a return on equity of 15.19%. The company’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. On average, sell-side analysts anticipate that DHT will post 1.14 earnings per share for the current fiscal year.

DHT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.08 annualized dividend and a dividend yield of 9.76%. DHT’s dividend payout ratio is presently 102.86%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DHT. Greenlight Capital Inc. grew its stake in DHT by 86.7% during the 4th quarter. Greenlight Capital Inc. now owns 3,779,880 shares of the shipping company’s stock worth $37,081,000 after buying an additional 1,755,060 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of DHT by 8.7% in the 1st quarter. Russell Investments Group Ltd. now owns 619,634 shares of the shipping company’s stock valued at $7,126,000 after acquiring an additional 49,657 shares during the period. Boston Partners raised its position in DHT by 74.6% in the 1st quarter. Boston Partners now owns 163,512 shares of the shipping company’s stock valued at $1,880,000 after purchasing an additional 69,838 shares during the last quarter. SG Americas Securities LLC acquired a new stake in DHT during the 1st quarter worth $1,602,000. Finally, M&G Plc purchased a new position in DHT during the 1st quarter worth $16,417,000. Institutional investors and hedge funds own 58.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DHT. Stifel Nicolaus upped their price target on DHT from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. StockNews.com lowered shares of DHT from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.67.

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.