DHT Holdings, Inc. (NYSE:DHT) Sees Large Decline in Short Interest

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 3,310,000 shares, a decline of 5.7% from the March 15th total of 3,510,000 shares. Based on an average daily volume of 1,890,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 2.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DHT shares. TheStreet raised shares of DHT from a "c+" rating to a "b-" rating in a report on Tuesday, February 6th. Truist Financial boosted their target price on shares of DHT from $14.00 to $17.00 and gave the company a "buy" rating in a report on Friday, February 16th. Finally, Jefferies Financial Group raised shares of DHT from a "hold" rating to a "buy" rating and boosted their target price for the company from $11.00 to $14.00 in a report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new position in shares of DHT during the 3rd quarter valued at $1,071,000. FMR LLC grew its position in DHT by 42.5% in the third quarter. FMR LLC now owns 16,122,321 shares of the shipping company's stock worth $166,060,000 after acquiring an additional 4,808,258 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its position in DHT by 4,118.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 2,670,200 shares of the shipping company's stock worth $27,503,000 after acquiring an additional 2,606,900 shares in the last quarter. International Assets Investment Management LLC grew its position in DHT by 880.9% in the fourth quarter. International Assets Investment Management LLC now owns 457,452 shares of the shipping company's stock worth $46,631,000 after acquiring an additional 410,816 shares in the last quarter. Finally, GoalVest Advisory LLC purchased a new position in DHT in the fourth quarter worth $964,000. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

DHT Price Performance

Shares of DHT traded down $0.04 during mid-day trading on Tuesday, reaching $11.25. 1,127,077 shares of the stock traded hands, compared to its average volume of 1,883,741. The firm has a fifty day moving average price of $11.22 and a 200 day moving average price of $10.71. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 11.36 and a beta of -0.33. The company has a current ratio of 3.54, a quick ratio of 2.94 and a debt-to-equity ratio of 0.39. DHT has a 1 year low of $7.30 and a 1 year high of $11.95.

DHT (NYSE:DHT - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The shipping company reported $0.22 EPS for the quarter, meeting analysts' consensus estimates of $0.22. The firm had revenue of $94.50 million during the quarter, compared to analyst estimates of $95.78 million. DHT had a net margin of 28.78% and a return on equity of 15.52%. The business's revenue for the quarter was down 19.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 EPS. As a group, equities research analysts predict that DHT will post 1.53 earnings per share for the current year.

DHT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.22 per share. This is a positive change from DHT's previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.83%. The ex-dividend date of this dividend was Tuesday, February 20th. DHT's payout ratio is 88.89%.

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.