DHT Holdings, Inc. (NYSE:DHT) Short Interest Down 5.7% in March

DHT Holdings, Inc. (NYSE:DHT) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 3,310,000 shares, a decrease of 5.7% from the March 15th total of 3,510,000 shares. Based on an average trading volume of 1,890,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately 2.5% of the company’s stock are short sold.

Analysts Set New Price Targets

Several research firms have recently issued reports on DHT. Truist Financial upped their price objective on shares of DHT from $14.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 16th. TheStreet upgraded shares of DHT from a “c+” rating to a “b-” rating in a report on Tuesday, February 6th. Finally, Jefferies Financial Group upgraded shares of DHT from a “hold” rating to a “buy” rating and upped their price objective for the company from $11.00 to $14.00 in a report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, DHT currently has an average rating of “Moderate Buy” and an average target price of $14.00.

Institutional Investors Weigh In On DHT

Several hedge funds have recently bought and sold shares of DHT. McIlrath & Eck LLC purchased a new position in shares of DHT during the 3rd quarter valued at approximately $52,000. National Bank of Canada FI lifted its position in shares of DHT by 150.0% during the 4th quarter. National Bank of Canada FI now owns 5,000 shares of the shipping company’s stock valued at $50,000 after buying an additional 3,000 shares in the last quarter. CWM LLC lifted its position in shares of DHT by 3,696.2% during the 3rd quarter. CWM LLC now owns 6,985 shares of the shipping company’s stock valued at $72,000 after buying an additional 6,801 shares in the last quarter. IFP Advisors Inc purchased a new position in shares of DHT during the 2nd quarter valued at approximately $77,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of DHT by 45.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,178 shares of the shipping company’s stock valued at $95,000 after buying an additional 2,882 shares in the last quarter. Hedge funds and other institutional investors own 58.53% of the company’s stock.

DHT Stock Performance

NYSE:DHT traded down $0.04 during midday trading on Wednesday, hitting $11.25. The company’s stock had a trading volume of 1,127,079 shares, compared to its average volume of 1,497,568. DHT has a fifty-two week low of $7.30 and a fifty-two week high of $11.95. The firm’s 50 day moving average is $11.22 and its 200-day moving average is $10.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.54 and a quick ratio of 2.94. The firm has a market cap of $1.81 billion, a P/E ratio of 11.36 and a beta of -0.33.

DHT (NYSE:DHT) last issued 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. DHT had a net margin of 28.78% and a return on equity of 15.52%. The company had revenue of $94.50 million for the quarter, compared to the consensus estimate of $95.78 million. During the same quarter in the prior year, the company earned $0.38 EPS. DHT’s quarterly revenue was down 19.0% on a year-over-year basis. Equities analysts anticipate that DHT will post 1.53 earnings per share for the current fiscal year.

DHT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 21st were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 7.82%. The ex-dividend date was Tuesday, February 20th. This is a positive change from DHT’s previous quarterly dividend of $0.19. DHT’s dividend payout ratio is currently 88.89%.

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.