Hafnia (NYSE:HAFN) Sets New 12-Month High - Still a Buy?

Key Points

• Hafnia shares reached a new 52-week high of $10.42 and were recently trading near $10.28, with a market capitalization of approximately $5.27 billion.
• Analyst sentiment is broadly positive: Hafnia has an average “Buy” rating and a consensus price target of $12.00, including BTIG’s target increase from $10 to $12.
• The company exceeded quarterly earnings expectations, reporting $0.56 in EPS and $834.53 million in revenue, while increasing its quarterly dividend to $0.5003 per share—an annualized yield of about 19.5%.

Hafnia Limited (NYSE:HAFN - Get Free Report) shares hit a new 52-week high during trading on Tuesday. The company traded as high as $10.42 and last traded at $10.2750, with a volume of 3663542 shares trading hands. The stock had previously closed at $10.25.

Analyst Upgrades and Downgrades

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

Hafnia Stock Performance

The stock has a market cap of $5.27 billion, a P/E ratio of 7.78 and a beta of 0.52. The firm's 50-day moving average is $8.59 and its two-hundred day moving average is $8.10. The company has a quick ratio of 1.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.25.

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

Hafnia Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th were issued a dividend of $0.5003 per share. This represents a $2.00 annualized dividend and a yield of 19.5%. This is a boost from Hafnia's previous quarterly dividend of $0.2877. The ex-dividend date was Tuesday, September 8th. Hafnia's dividend payout ratio is 151.52%.

Hedge Funds Weigh In On Hafnia

Several large investors have recently made changes to their positions in HAFN. Assenagon Asset Management S.A. acquired a new stake in Hafnia during the first quarter valued at approximately $32,205,000. MHR Fund Management LLC grew its holdings in shares of Hafnia by 7.6% in the 4th quarter. MHR Fund Management LLC now owns 18,496,652 shares of the company's stock worth $98,587,000 after purchasing an additional 1,309,938 shares during the last quarter. Fearnley Asset Management AS acquired a new stake in shares of Hafnia during the 4th quarter worth about $3,185,000. Marnell Management LLC acquired a new stake in shares of Hafnia during the 4th quarter worth about $2,155,000. Finally, Bank of America Corp DE grew its position in Hafnia by 175.0% during the 1st quarter. Bank of America Corp DE now owns 571,705 shares of the company's stock worth $4,345,000 after acquiring an additional 363,821 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.