Short Interest in DHT Holdings, Inc. (NYSE:DHT) Increases By 59.5%

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

DHT Stock Performance

DHT stock traded up $0.29 during trading hours on Friday, hitting $18.11. The company had a trading volume of 3,390,014 shares, compared to its average volume of 6,717,562. DHT has a one year low of $8.99 and a one year high of $20.55. The firm has a market cap of $2.91 billion, a PE ratio of 13.82 and a beta of -0.13. The firm has a 50-day moving average of $16.44 and a 200 day moving average of $13.96. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.80 and a quick ratio of 2.47.

DHT (NYSE:DHT) last announced its earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.70% and a net margin of 42.35%.The firm’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share. On average, sell-side analysts expect that DHT will post 0.94 earnings per share for the current year.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 19th were issued a dividend of $0.41 per share. This is an increase from DHT’s previous quarterly dividend of $0.18. This represents a $1.64 dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date of this dividend was Thursday, February 19th. DHT’s payout ratio is 125.19%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On DHT

Several institutional investors and hedge funds have recently modified their holdings of DHT. Federated Hermes Inc. raised its stake in DHT by 101.6% in the 3rd quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,368 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of 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 grew its position in shares of 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 purchasing an additional 1,596 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of DHT by 568.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock worth $43,000 after purchasing an additional 3,022 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of DHT by 96.5% during the third quarter. Fifth Third Bancorp now owns 4,159 shares of the shipping company’s stock worth $50,000 after purchasing an additional 2,042 shares during the period. 58.53% of the stock is currently owned by institutional investors and hedge funds.

About DHT

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.