Short Interest in DHT Holdings, Inc. (NYSE:DHT) Increases By 53.7%

DHT Holdings, Inc. (NYSE:DHT) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 3,457,385 shares, an increase of 53.7% from the November 30th total of 2,249,668 shares. Approximately 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 1,581,559 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily trading volume, of 1,581,559 shares, the days-to-cover ratio is currently 2.2 days. Approximately 2.2% of the company’s shares are sold short.

DHT Stock Up 1.0%

DHT stock traded up $0.13 during trading hours on Monday, reaching $12.35. The stock had a trading volume of 228,843 shares, compared to its average volume of 1,768,632. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 9.95 and a beta of -0.08. The business’s 50 day moving average price is $12.86 and its 200-day moving average price is $12.04. DHT has a 52 week low of $8.99 and a 52 week high of $13.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.41 and a quick ratio of 2.02.

DHT (NYSE:DHT) last issued its quarterly earnings data on Wednesday, October 29th. The shipping company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. DHT had a net margin of 41.17% and a return on equity of 17.05%. The firm had revenue of $107.35 million for the quarter, compared to the consensus estimate of $78.83 million. During the same quarter in the previous year, the firm earned $0.22 EPS. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. Sell-side analysts anticipate that DHT will post 0.94 EPS for the current year.

DHT Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.8%. DHT’s payout ratio is presently 58.06%.

Analysts Set New Price Targets

DHT has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a $16.00 price objective on shares of DHT in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a research note on Wednesday, October 8th. Wall Street Zen cut shares of DHT from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Evercore ISI lifted their price objective on shares of DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Finally, BTIG Research restated a “buy” rating and issued a $16.00 target price on shares of DHT in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.67.

Hedge Funds Weigh In On DHT

Several hedge funds and other institutional investors have recently modified their holdings of DHT. Victory Capital Management Inc. grew its position in DHT by 360.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,963,693 shares of the shipping company’s stock worth $35,416,000 after purchasing an additional 2,320,564 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of DHT during the first quarter worth $19,950,000. Qube Research & Technologies Ltd grew its holdings in shares of DHT by 706.0% during the second quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock valued at $11,650,000 after buying an additional 943,990 shares during the last quarter. Corigliano Investment Advisers LLC purchased a new stake in shares of DHT during the first quarter valued at $5,788,000. Finally, American Century Companies Inc. increased its position in shares of DHT by 11.2% in the 2nd quarter. American Century Companies Inc. now owns 4,899,375 shares of the shipping company’s stock valued at $52,962,000 after acquiring an additional 491,717 shares during the period. 58.53% of the stock is owned by hedge funds and other institutional investors.

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.