DHT Holdings, Inc. (NYSE:DHT) Short Interest Update

Key Points

• Short interest jumped 29.3% to 8,560,237 shares as of April 15, equal to 5.4% of the float and a days-to-cover of about 2.1.
• DHT raised its quarterly dividend to $0.41 (from $0.18), an annualized $1.64 representing a 9.0% yield
• In the most recent quarter DHT beat estimates with EPS of $0.41 and revenue of $117.85M, with revenue up 37.8% year-over-year and a net margin of 42.35%.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totaling 8,560,237 shares, an increase of 29.3% from the March 31st total of 6,622,637 shares. Currently, 5.4% of the shares of the company are short sold. Based on an average daily volume of 4,000,059 shares, the days-to-cover ratio is currently 2.1 days.

DHT Stock Performance

DHT stock traded down $0.00 during trading on Wednesday, reaching $18.29. The stock had a trading volume of 1,938,348 shares, compared to its average volume of 4,237,989. DHT has a 52 week low of $10.50 and a 52 week high of $20.55. The stock's 50 day moving average is $18.02 and its two-hundred day moving average is $14.86. The company has a current ratio of 2.80, a quick ratio of 2.47 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.94 billion, a PE ratio of 13.96 and a beta of -0.09.

DHT (NYSE:DHT - Get Free Report) last posted its earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. The company had revenue of $117.85 million for the quarter, compared to the consensus estimate of $116.96 million. DHT had a return on equity of 17.70% and a net margin of 42.35%.DHT's revenue was up 37.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share.

DHT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, February 19th were given a $0.41 dividend. The ex-dividend date was Thursday, February 19th. This is a positive change from DHT's previous quarterly dividend of $0.18. This represents a $1.64 dividend on an annualized basis and a yield of 9.0%. DHT's dividend payout ratio (DPR) is currently 125.19%.

Institutional Trading of DHT

A number of hedge funds and other institutional investors have recently bought and sold shares of DHT. AQR Capital Management LLC increased its position in DHT by 178.9% in the first quarter. AQR Capital Management LLC now owns 70,582 shares of the shipping company's stock worth $741,000 after buying an additional 45,275 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in DHT in the second quarter worth about $171,000. Creative Planning increased its position in DHT by 34.1% in the second quarter. Creative Planning now owns 15,189 shares of the shipping company's stock worth $164,000 after buying an additional 3,859 shares in the last quarter. JPMorgan Chase & Co. increased its position in DHT by 11.3% in the second quarter. JPMorgan Chase & Co. now owns 400,068 shares of the shipping company's stock worth $4,325,000 after buying an additional 40,574 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in DHT in the second quarter worth about $162,000. Hedge funds and other institutional investors own 58.53% of the company's stock.

Analysts Set New Price Targets

DHT has been the topic of a number of recent research reports. Weiss Ratings reissued a "buy (b)" rating on shares of DHT in a report on Monday, April 20th. Wall Street Zen raised DHT from a "hold" rating to a "buy" rating in a report on Saturday, March 21st. Dnb Carnegie downgraded DHT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 3rd. Evercore downgraded DHT from an "outperform" rating to an "in-line" rating and set a $19.00 target price on the stock. in a report on Wednesday, April 22nd. Finally, BTIG Research increased their target price on DHT from $18.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, DHT currently has an average rating of "Moderate Buy" and a consensus price target of $19.33.

About DHT

DHT Holdings, Inc NYSE: DHT is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company's core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.

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