Hafnia (NYSE:HAFN) Hits New 52-Week High - Here's What Happened

Key Points

• Hafnia shares reached a new 52-week high, trading as high as $10.97 and recently around $11.05, up from a prior close of $10.72.
• Analyst sentiment is broadly positive: Hafnia has an average “Buy” rating and a consensus price target of $12.00, including BTIG’s increase from $10 to $12.
• The company reported quarterly EPS of $0.56, slightly above estimates, and raised its quarterly dividend to $0.5003, implying an annualized yield of about 18%.

Hafnia Limited (NYSE:HAFN - Get Free Report)'s share price hit a new 52-week high on Monday. The stock traded as high as $10.97 and last traded at $11.0450, with a volume of 148,188 shares changing hands. The stock had previously closed at $10.72.

Analysts Set New Price Targets

A number of research analysts have commented on HAFN shares. Weiss Ratings raised Hafnia from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, September 21st. Wall Street Zen downgraded Hafnia from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 26th. BTIG Research raised their price objective on shares of Hafnia from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Friday, September 18th. Finally, Pareto Securities raised shares of Hafnia from a "hold" rating to a "buy" rating in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $12.00.

Hafnia Stock Up 3.5%

The firm's 50-day simple moving average is $8.82 and its 200-day simple moving average is $8.19. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 8.39 and a beta of 0.52. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.49 and a current ratio of 1.66.

Hafnia (NYSE:HAFN - Get Free Report) last posted its quarterly earnings results on Saturday, August 29th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. The firm had revenue of $834.53 million during the quarter, compared to analysts' expectations of $394.57 million. Hafnia had a return on equity of 26.74% and a net margin of 56.72%.

Hafnia Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th were given a $0.5003 dividend. This represents a $2.00 annualized dividend and a yield of 18.0%. The ex-dividend date was Tuesday, September 8th. This is a boost from Hafnia's previous quarterly dividend of $0.2877. Hafnia's dividend payout ratio is 151.52%.

Institutional Investors Weigh In On Hafnia

A number of institutional investors and hedge funds have recently made changes to their positions in HAFN. Blue Trust Inc. bought a new stake in Hafnia in the first quarter valued at about $48,000. Aristides Capital LLC bought a new stake in Hafnia in the fourth quarter valued at approximately $179,000. Shariaportfolio Inc. bought a new stake in shares of Hafnia in the 1st quarter valued at $273,000. Quantinno Capital Management LP increased its holdings in shares of Hafnia by 7.0% in the first quarter. Quantinno Capital Management LP now owns 55,859 shares of the company's stock worth $425,000 after acquiring an additional 3,639 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Hafnia in the 2nd quarter valued at approximately $410,000.

Hafnia Company Profile

Hafnia Limited is a maritime transportation company that owns and operates product tankers. The company transports refined petroleum products, vegetable oils, and other liquid bulk commodities for customers around the world.

Its fleet serves several segments of the product tanker market, including vessels used to carry cargoes over regional and long-haul routes. In addition to vessel ownership, Hafnia provides commercial management, chartering, pool management, and technical and operational services designed to support the transportation of liquid products.

Hafnia is headquartered in Singapore and operates globally, serving major energy, commodities, and industrial markets.

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