Hafnia (NYSE:HAFN) Shares Gap Up - Still a Buy?

Hafnia Limited (NYSE:HAFN - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $5.05, but opened at $5.16. Hafnia shares last traded at $5.09, with a volume of 270,148 shares traded.

Analysts Set New Price Targets

Separately, Fearnley Fonds raised shares of Hafnia to a "strong-buy" rating in a research report on Tuesday, May 6th.

Hafnia Price Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.52. The firm has a 50-day moving average of $4.60 and a 200 day moving average of $4.98. The stock has a market capitalization of $2.56 billion and a price-to-earnings ratio of 2.97.

Hafnia (NYSE:HAFN - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $340.34 million during the quarter, compared to the consensus estimate of $250.80 million. Hafnia had a return on equity of 36.90% and a net margin of 53.44%.

Hafnia Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Monday, May 26th will be given a $0.1015 dividend. This represents a dividend yield of 7.59%. The ex-dividend date of this dividend is Friday, May 23rd. Hafnia's dividend payout ratio (DPR) is presently 33.06%.

Institutional Investors Weigh In On Hafnia

Institutional investors and hedge funds have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Hafnia by 8.5% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 33,249 shares of the company's stock worth $138,000 after acquiring an additional 2,591 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Hafnia by 11.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 33,126 shares of the company's stock valued at $178,000 after purchasing an additional 3,387 shares during the period. Swiss National Bank lifted its stake in shares of Hafnia by 0.6% during the 4th quarter. Swiss National Bank now owns 555,852 shares of the company's stock worth $2,975,000 after buying an additional 3,578 shares during the last quarter. WealthCollab LLC acquired a new position in Hafnia in the 4th quarter valued at about $28,000. Finally, Callan Capital LLC raised its holdings in Hafnia by 27.5% in the 1st quarter. Callan Capital LLC now owns 25,622 shares of the company's stock valued at $107,000 after acquiring an additional 5,530 shares during the period.

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.