Hafnia Limited $HAFN Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Hafnia Limited by 41.5%, selling 235,743 shares and retaining 332,109 shares, valued at approximately $1.36 million.
• Hafnia received a strong-buy rating from Fearnley Fonds, contributing to an average rating of "Strong Buy" with a target price of $6.50.
• The company's stock increased by 3.5% to open at $6.05, following a quarterly earnings report that revealed a net margin of 45.74% and exceeded revenue estimates at $346.56 million.

Russell Investments Group Ltd. reduced its stake in Hafnia Limited (NYSE:HAFN - Free Report) by 41.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 332,109 shares of the company's stock after selling 235,743 shares during the period. Russell Investments Group Ltd. owned 0.07% of Hafnia worth $1,362,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its stake in Hafnia by 86.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,642 shares of the company's stock valued at $90,000 after acquiring an additional 10,033 shares during the period. BNP Paribas Financial Markets acquired a new position in Hafnia in the fourth quarter valued at approximately $1,472,000. Wells Fargo & Company MN boosted its stake in Hafnia by 7,756.1% in the fourth quarter. Wells Fargo & Company MN now owns 18,776 shares of the company's stock valued at $105,000 after acquiring an additional 18,537 shares during the period. Exchange Traded Concepts LLC acquired a new position in Hafnia in the first quarter valued at approximately $117,000. Finally, TD Asset Management Inc boosted its position in shares of Hafnia by 38.5% during the first quarter. TD Asset Management Inc now owns 28,406 shares of the company's stock worth $116,000 after buying an additional 7,892 shares during the period.

Wall Street Analyst Weigh In

Separately, Fearnley Fonds upgraded Hafnia to a "strong-buy" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Strong Buy" and an average target price of $6.50.

Hafnia Stock Performance

Shares of NYSE HAFN traded down $0.01 during midday trading on Tuesday, hitting $6.13. 1,094,589 shares of the company's stock were exchanged, compared to its average volume of 1,326,478. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.21 and a quick ratio of 1.12. The stock's 50 day moving average price is $5.50 and its 200-day moving average price is $4.98. The firm has a market cap of $3.10 billion, a P/E ratio of 7.21 and a beta of 0.93. Hafnia Limited has a twelve month low of $3.61 and a twelve month high of $7.84.

Hafnia (NYSE:HAFN - Get Free Report) last released its earnings results on Wednesday, August 27th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. The firm had revenue of $346.56 million during the quarter, compared to the consensus estimate of $249.42 million. Hafnia had a return on equity of 18.74% and a net margin of 37.26%.

Hafnia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Thursday, September 4th will be given a $0.121 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date is Thursday, September 4th. Hafnia's dividend payout ratio is 48.24%.

Hafnia Company Profile

Hafnia Limited owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), Handy size, and Specialized segments. The company transports clean and dirty, refined oil products, vegetable oil, and easy chemicals to national and international oil companies, and chemical companies, as well as trading and utility companies; and owns and operates 200 vessels.