Hafnia (NYSE:HAFN) Sets New 12-Month High - Here's What Happened

Key Points

• Hafnia Limited reached a new 52-week high share price of $6.43, closing at $6.38, with a trading volume of approximately 1.58 million shares.
• The company reported $0.15 earnings per share for the last quarter, exceeding analysts' expectations, alongside significant revenue of $346.56 million.
• Hafnia recently announced a quarterly dividend of $0.121 per share, with an annualized yield of 7.6% and a payout ratio of 56.47%.

Hafnia Limited (NYSE:HAFN - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as $6.43 and last traded at $6.38, with a volume of 1576870 shares changing hands. The stock had previously closed at $6.01.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings restated a "hold (c)" rating on shares of Hafnia in a research report on Wednesday, October 8th. Fearnley Fonds lowered Hafnia from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $6.50.

Hafnia Price Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.21 and a quick ratio of 1.09. The stock has a 50 day moving average price of $6.01 and a 200-day moving average price of $5.39. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 7.50 and a beta of 0.90.

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

Hafnia Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.121 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.48 dividend on an annualized basis and a yield of 7.6%. Hafnia's payout ratio is 56.47%.

Hedge Funds Weigh In On Hafnia

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. boosted its stake in Hafnia by 53.9% during the second quarter. SBI Securities Co. Ltd. now owns 5,129 shares of the company's stock worth $26,000 after buying an additional 1,796 shares during the last quarter. Naviter Wealth LLC acquired a new position in Hafnia during the first quarter worth $42,000. Sierra Capital LLC acquired a new position in Hafnia during the second quarter worth $50,000. J.W. Cole Advisors Inc. acquired a new position in Hafnia during the second quarter worth $55,000. Finally, Avantax Advisory Services Inc. acquired a new position in Hafnia during the first quarter worth $47,000.

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.

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