Hafnia (NYSE:HAFN) CEO Sells 500,000 Shares

Key Points

• CEO Mikael Opstun Skov sold 500,000 shares (about $4.06M at an average $8.12) on April 10, reducing his stake to 1,630,978 shares — a 23.46% decrease disclosed in an SEC filing.
• Hafnia recently raised its quarterly dividend to $0.1762 (paid March 13), representing a $0.70 annualized payout and a high 8.7% yield
• On Feb. 26 the company reported EPS of $0.22 in line with estimates and revenue of $599.9M versus a $285.6M consensus, with a strong net margin of 35.54%.

Hafnia Limited (NYSE:HAFN - Get Free Report) CEO Mikael Opstun Skov sold 500,000 shares of Hafnia stock in a transaction on Friday, April 10th. The shares were sold at an average price of $8.12, for a total value of $4,060,000.00. Following the completion of the transaction, the chief executive officer owned 1,630,978 shares in the company, valued at approximately $13,243,541.36. The trade was a 23.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Mikael Opstun Skov also recently made the following trade(s):

• On Monday, April 13th, Mikael Opstun Skov sold 500,000 shares of Hafnia stock. The stock was sold at an average price of $8.11, for a total value of $4,055,000.00.

Hafnia Price Performance

NYSE:HAFN traded down $0.14 during trading hours on Tuesday, hitting $8.12. The company's stock had a trading volume of 1,389,038 shares, compared to its average volume of 1,725,326. The stock has a fifty day simple moving average of $7.25 and a 200-day simple moving average of $6.38. The company has a market capitalization of $4.16 billion, a P/E ratio of 11.94 and a beta of 0.54. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.53 and a quick ratio of 1.40. Hafnia Limited has a twelve month low of $4.12 and a twelve month high of $8.52.

Hafnia (NYSE:HAFN - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $599.88 million during the quarter, compared to the consensus estimate of $285.64 million. Hafnia had a return on equity of 14.71% and a net margin of 35.54%.

Hafnia Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, March 6th were issued a dividend of $0.1762 per share. This is a boost from Hafnia's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, March 6th. This represents a $0.70 annualized dividend and a dividend yield of 8.7%. Hafnia's payout ratio is presently 102.94%.

Institutional Investors Weigh In On Hafnia

A number of institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new position in Hafnia during the fourth quarter worth $36,000. Royal Bank of Canada grew its holdings in shares of Hafnia by 504.8% during the fourth quarter. Royal Bank of Canada now owns 7,185 shares of the company's stock valued at $38,000 after buying an additional 5,997 shares during the last quarter. Smartleaf Asset Management LLC bought a new stake in shares of Hafnia during the fourth quarter worth about $47,000. GC Wealth Management RIA LLC bought a new stake in shares of Hafnia during the fourth quarter worth about $53,000. Finally, State of Wyoming acquired a new stake in shares of Hafnia in the 2nd quarter worth about $57,000.

Analysts Set New Price Targets

A number of brokerages have weighed in on HAFN. Dnb Carnegie lowered shares of Hafnia from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 12th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Hafnia in a report on Wednesday, December 24th. Finally, Wall Street Zen downgraded Hafnia from a "buy" rating to a "hold" rating in a report on Sunday, March 22nd. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy".

About Hafnia

Hafnia is a global shipping company listed on the New York Stock Exchange under the ticker HAFN. The firm specializes in the marine transportation of refined petroleum products, providing safe and reliable shipping solutions across key global trade lanes. Its core operations focus on the carriage of gasoline, diesel, jet fuel and other clean petroleum products, catering to the needs of oil majors, trading houses and independent refiners.

The company operates a modern fleet of double-hulled product tankers, managed to comply with stringent safety and environmental standards.

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