DHT Holdings, Inc. (NYSE:DHT) Short Interest Up 59.5% in March

DHT Holdings, Inc. (NYSE:DHT) was the target of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 6,952,574 shares, an increase of 59.5% from the February 26th total of 4,360,326 shares. Currently, 4.3% of the company’s shares are sold short. Based on an average daily trading volume, of 8,249,740 shares, the short-interest ratio is presently 0.8 days.

DHT Trading Up 1.6%

NYSE DHT traded up $0.29 during trading on Friday, reaching $18.11. 3,390,014 shares of the stock traded hands, compared to its average volume of 6,717,562. DHT has a fifty-two week low of $8.99 and a fifty-two week high of $20.55. The company has a quick ratio of 2.47, a current ratio of 2.80 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 13.82 and a beta of -0.13. The stock’s 50-day moving average price is $16.44 and its 200 day moving average price is $13.96.

DHT (NYSE:DHT) last posted its earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. The company had revenue of $117.85 million for the quarter, compared to analyst estimates of $116.96 million. DHT had a net margin of 42.35% and a return on equity of 17.70%. The business’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share. Analysts predict that DHT will post 0.94 EPS for the current year.

DHT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 19th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend was Thursday, February 19th. This is a boost from DHT’s previous quarterly dividend of $0.18. DHT’s dividend payout ratio (DPR) is 125.19%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Dnb Carnegie lowered shares of DHT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Wall Street Zen raised DHT from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. BTIG Research lifted their price objective on DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, DHT presently has a consensus rating of “Moderate Buy” and an average price target of $16.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DHT. Federated Hermes Inc. lifted its holdings in shares of DHT by 101.6% during the 3rd quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,368 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in DHT by 190.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock worth $33,000 after purchasing an additional 1,982 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in DHT by 91.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after buying an additional 1,596 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in DHT by 568.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock worth $43,000 after buying an additional 3,022 shares during the period. Finally, Fifth Third Bancorp lifted its stake in DHT by 96.5% in the third quarter. Fifth Third Bancorp now owns 4,159 shares of the shipping company’s stock valued at $50,000 after buying an additional 2,042 shares in the last quarter. 58.53% of the stock is owned by institutional investors and hedge funds.

DHT Company Profile

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.