Hafnia Limited $HAFN Position Boosted by CWA Asset Management Group LLC

Key Points

• CWA Asset Management increased its Hafnia position by 46.6% in the third quarter, adding 235,043 shares and bringing its total holding to 739,605 shares valued at approximately $7.35 million.
• Hafnia reported quarterly EPS of $0.56, exceeding estimates of $0.54, while revenue reached $834.53 million. The company also raised its quarterly dividend to $0.5003 per share, implying a 20% annualized yield.
• Analyst sentiment is broadly positive, with Hafnia receiving an average “Buy” rating and a $12.00 price target; shares recently opened at $9.98, versus a 52-week range of $5.17 to $11.10.

CWA Asset Management Group LLC grew its position in shares of Hafnia Limited (NYSE:HAFN - Free Report) by 46.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 739,605 shares of the company's stock after purchasing an additional 235,043 shares during the quarter. CWA Asset Management Group LLC owned 0.14% of Hafnia worth $7,352,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of HAFN. Blue Trust Inc. bought a new position in Hafnia during the first quarter valued at about $48,000. Shariaportfolio Inc. bought a new stake in Hafnia in the first quarter worth about $273,000. Aristides Capital LLC raised its position in Hafnia by 12.9% in the first quarter. Aristides Capital LLC now owns 37,882 shares of the company's stock worth $288,000 after acquiring an additional 4,334 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Hafnia in the 2nd quarter valued at about $410,000. Finally, Quantinno Capital Management LP lifted its holdings in Hafnia by 7.0% in the 1st quarter. Quantinno Capital Management LP now owns 55,859 shares of the company's stock valued at $425,000 after acquiring an additional 3,639 shares during the last quarter.

Hafnia Stock Performance

HAFN opened at $9.98 on Tuesday. The firm has a market cap of $5.12 billion, a PE ratio of 7.56 and a beta of 0.52. The company has a quick ratio of 1.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $9.18 and a 200-day simple moving average of $8.31. Hafnia Limited has a fifty-two week low of $5.17 and a fifty-two week high of $11.10.

Hafnia (NYSE:HAFN - Get Free Report) last issued its earnings results on Saturday, August 29th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.02. Hafnia had a return on equity of 26.74% and a net margin of 56.72%. The business had revenue of $834.53 million for the quarter, compared to analysts' expectations of $394.57 million.

Hafnia Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th were issued a dividend of $0.5003 per share. This represents a $2.00 annualized dividend and a yield of 20.0%. The ex-dividend date was Tuesday, September 8th. This is a boost from Hafnia's previous quarterly dividend of $0.2877. Hafnia's dividend payout ratio is presently 151.52%.

Analysts Set New Price Targets

Several research firms have recently weighed in on HAFN. Wall Street Zen lowered shares of Hafnia from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 26th. Pareto Securities upgraded shares of Hafnia from a "hold" rating to a "buy" rating in a report on Tuesday, September 29th. Weiss Ratings upgraded shares of Hafnia from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, September 21st. Finally, BTIG Research increased their target price on shares of Hafnia from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $12.00.

Hafnia Profile

Hafnia Limited is a global owner and operator of product tankers that transport refined petroleum products, chemicals, and vegetable oils. The company provides maritime transportation services to energy companies, commodity traders, and industrial customers through a fleet of vessels serving international shipping routes.

In addition to owning and operating tankers, Hafnia offers commercial management, chartering, pool management, and technical and operational services. Its activities span the transportation of clean petroleum products, including gasoline, diesel, and jet fuel, as well as other liquid cargoes.

Hafnia is headquartered in Singapore and operates internationally, with activities and offices serving major energy and shipping markets.

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