DHT Holdings Inc (NYSE:DHT) Sees Significant Decrease in Short Interest
DHT Holdings Inc (NYSE:DHT) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 5,339,900 shares, a decline of 13.5% from the July 31st total of 6,171,500 shares. Currently, 6.0% of the company’s stock are short sold. Based on an average trading volume of 980,500 shares, the days-to-cover ratio is currently 5.4 days.
Several equities analysts have weighed in on DHT shares. Zacks Investment Research cut DHT from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Evercore ISI reaffirmed a “buy” rating and set a $8.00 target price on shares of DHT in a research note on Thursday, August 8th. Finally, ValuEngine cut DHT from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $6.90.
Shares of NYSE DHT traded up $0.17 during trading hours on Friday, hitting $6.07. The stock had a trading volume of 1,599,908 shares, compared to its average volume of 949,378. The company has a market capitalization of $827.81 million, a P/E ratio of -24.28, a P/E/G ratio of 5.63 and a beta of 0.52. The firm’s 50-day moving average price is $5.58 and its two-hundred day moving average price is $5.36. DHT has a 52 week low of $3.60 and a 52 week high of $6.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 1.29.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 22nd were paid a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.08 annualized dividend and a dividend yield of 1.32%. DHT’s payout ratio is -32.00%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of DHT by 8.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,205,894 shares of the shipping company’s stock valued at $36,087,000 after buying an additional 707,575 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in DHT by 35.0% in the 2nd quarter. Renaissance Technologies LLC now owns 7,029,887 shares of the shipping company’s stock worth $41,547,000 after purchasing an additional 1,822,717 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in DHT by 465.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 19,129 shares of the shipping company’s stock worth $85,000 after purchasing an additional 15,744 shares during the last quarter. Bank of America Corp DE lifted its holdings in DHT by 29.2% in the 4th quarter. Bank of America Corp DE now owns 64,378 shares of the shipping company’s stock worth $252,000 after purchasing an additional 14,561 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in DHT in the 2nd quarter worth approximately $735,000. 42.72% of the stock is owned by institutional investors and hedge funds.
DHT Company Profile
DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of March 18, 2019, it had a fleet of 27 very large crude carriers with a capacity of 8,360,850 deadweight tons. The company was founded in 2005 and is headquartered in Hamilton, Bermuda.
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