Hafnia (NYSE:HAFN) Sets New 12-Month High - Should You Buy?

Key Points

• Hafnia hit a new 52-week high of $9.03 (last $9.015) on heavy volume and was trading up about 1.1%, while analysts' consensus sits at a Moderate Buy after mixed upgrades and downgrades.
• The company reported a strong quarter with revenue of $599.88 million and a net margin of 35.54%, and it has a P/E of 13.26 and $4.62 billion market cap; it also raised its quarterly dividend to $0.1762 (a 7.8% yield) but with a payout ratio above 100% (102.94%).
• Insiders have been selling: the CEO sold 500,000 shares and the CFO sold 90,000, with insiders offloading about 1,090,000 shares (~$8.85 million) in the past three months, materially reducing their positions.

Shares of Hafnia Limited (NYSE:HAFN - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $9.03 and last traded at $9.0150, with a volume of 1184218 shares traded. The stock had previously closed at $8.92.

Analyst Ratings Changes

Several analysts have recently commented on HAFN shares. Wall Street Zen raised shares of Hafnia from a "hold" rating to a "buy" rating in a research report on Saturday, April 25th. Dnb Carnegie downgraded shares of Hafnia from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat, Hafnia presently has an average rating of "Moderate Buy".

Hafnia Trading Up 1.1%

The firm's 50-day moving average is $7.75 and its 200-day moving average is $6.60. The company has a current ratio of 1.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.39. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 13.26 and a beta of 0.86.

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

Hafnia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, March 6th were given a $0.1762 dividend. This represents a $0.70 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Friday, March 6th. This is an increase from Hafnia's previous quarterly dividend of $0.15. Hafnia's payout ratio is 102.94%.

Insider Buying and Selling at Hafnia

In related news, CEO Mikael Opstun Skov sold 500,000 shares of Hafnia stock in a transaction on Monday, April 13th. The shares were sold at an average price of $8.11, for a total value of $4,055,000.00. Following the completion of the sale, the chief executive officer owned 1,130,978 shares of the company's stock, valued at approximately $9,172,231.58. This trade represents a 30.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Echtelt Petrus Wouter Van sold 90,000 shares of Hafnia stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $8.22, for a total transaction of $739,800.00. Following the completion of the sale, the chief financial officer directly owned 91,994 shares of the company's stock, valued at approximately $756,190.68. The trade was a 49.45% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,090,000 shares of company stock valued at $8,854,800.

Hedge Funds Weigh In On Hafnia

Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its stake in Hafnia by 3.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 44,390 shares of the company's stock valued at $240,000 after acquiring an additional 1,509 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Hafnia by 1.8% during the 1st quarter. Pictet Asset Management Holding SA now owns 91,384 shares of the company's stock valued at $700,000 after acquiring an additional 1,650 shares in the last quarter. Earned Wealth Advisors LLC lifted its stake in Hafnia by 15.6% during the 3rd quarter. Earned Wealth Advisors LLC now owns 16,917 shares of the company's stock valued at $101,000 after acquiring an additional 2,286 shares in the last quarter. Vise Technologies Inc. lifted its stake in Hafnia by 16.4% during the 3rd quarter. Vise Technologies Inc. now owns 16,326 shares of the company's stock valued at $98,000 after acquiring an additional 2,305 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in Hafnia by 7.1% during the 4th quarter. TD Asset Management Inc now owns 37,039 shares of the company's stock valued at $200,000 after acquiring an additional 2,453 shares in the last quarter.

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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