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

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) was the recipient of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 3,670,000 shares, a decrease of 40.0% from the May 15th total of 6,120,000 shares. Based on an average trading volume of 1,740,000 shares, the short-interest ratio is presently 2.1 days. Approximately 2.9% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DHT shares. Evercore ISI lowered their price objective on shares of DHT from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Jefferies Financial Group reissued a "buy" rating and set a $15.00 price objective on shares of DHT in a research note on Wednesday, May 7th. Three research 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. Based on data from MarketBeat, DHT presently has a consensus rating of "Moderate Buy" and an average target price of $12.94.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in shares of DHT by 81.5% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company's stock valued at $25,000 after buying an additional 1,073 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of DHT by 84.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,771 shares of the shipping company's stock valued at $26,000 after buying an additional 1,265 shares in the last quarter. CWM LLC increased its position in shares of DHT by 223.4% in the first quarter. CWM LLC now owns 3,063 shares of the shipping company's stock valued at $32,000 after buying an additional 2,116 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of DHT in the fourth quarter valued at $37,000. Finally, Sterling Capital Management LLC increased its position in shares of DHT by 822.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,325 shares of the shipping company's stock valued at $40,000 after buying an additional 3,856 shares in the last quarter. Hedge funds and other institutional investors own 58.53% of the company's stock.

DHT Trading Down 2.0%

NYSE:DHT traded down $0.24 on Monday, reaching $11.91. 2,833,546 shares of the company's stock were exchanged, compared to its average volume of 1,873,016. The company has a quick ratio of 1.50, a current ratio of 1.84 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 10.63 and a beta of 0.07. The business has a fifty day moving average of $11.05 and a 200-day moving average of $10.59. DHT has a 52-week low of $8.67 and a 52-week high of $12.32.

DHT (NYSE:DHT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The shipping company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. The firm had revenue of $79.34 million during the quarter, compared to the consensus estimate of $84.00 million. DHT had a return on equity of 17.42% and a net margin of 31.72%. The company's revenue for the quarter was down 25.4% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. As a group, analysts expect that DHT will post 0.94 earnings per share for the current year.

DHT Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, May 28th. Shareholders of record on Thursday, May 22nd were given a $0.15 dividend. This represents a yield of 5.1%. The ex-dividend date of this dividend was Wednesday, May 21st. DHT's payout ratio is 54.55%.

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.

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