Hafnia (NYSE:HAFN) Shares Up 3.9% - Here's Why

Key Points

• Hafnia shares rose 3.9% to about $9.26 in midday trading, though volume was 63% below the average session level.
• Analyst sentiment remains positive: BTIG raised its price target to $12, while the stock carries a consensus “Moderate Buy” rating and a $12 average target.
• Hafnia reported quarterly EPS of $0.56, exceeding estimates, and increased its quarterly dividend to $0.5003 per share, implying an annualized yield of approximately 21.8%.

Hafnia Limited (NYSE:HAFN - Get Free Report)'s stock price rose 3.9% during mid-day trading on Monday. The company traded as high as $9.23 and last traded at $9.2640. Approximately 657,400 shares were traded during trading, a decline of 63% from the average session volume of 1,773,236 shares. The stock had previously closed at $8.92.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on HAFN shares. BTIG Research lifted their price target on Hafnia from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Friday, September 18th. Wall Street Zen lowered shares of Hafnia from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Weiss Ratings upgraded shares of Hafnia from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $12.00.

Hafnia Stock Performance

The business has a 50-day simple moving average of $8.31 and a 200 day simple moving average of $7.97. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.49. The firm has a market cap of $4.70 billion, a PE ratio of 6.94 and a beta of 0.65.

Hafnia (NYSE:HAFN - Get Free Report) last released its earnings results on Saturday, August 29th. The company reported $0.56 earnings per share (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 analyst estimates of $394.57 million.

Hafnia Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 8th were paid a dividend of $0.5003 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This is a boost from Hafnia's previous quarterly dividend of $0.2877. This represents a $2.00 dividend on an annualized basis and a yield of 21.8%. Hafnia's dividend payout ratio is currently 151.52%.

Institutional Trading of Hafnia

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pictet Asset Management Holding SA grew its stake in shares of Hafnia by 1.8% during the first quarter. Pictet Asset Management Holding SA now owns 91,384 shares of the company's stock valued at $700,000 after buying an additional 1,650 shares during the last quarter. Amundi boosted its holdings in Hafnia by 5.4% during the 1st quarter. Amundi now owns 67,213 shares of the company's stock valued at $511,000 after acquiring an additional 3,465 shares during the period. Quantinno Capital Management LP boosted its holdings in Hafnia by 7.0% during the 1st quarter. Quantinno Capital Management LP now owns 55,859 shares of the company's stock valued at $425,000 after acquiring an additional 3,639 shares during the period. Aristides Capital LLC boosted its holdings in Hafnia by 12.9% during the 1st quarter. Aristides Capital LLC now owns 37,882 shares of the company's stock valued at $288,000 after acquiring an additional 4,334 shares during the period. Finally, Blue Trust Inc. bought a new position in Hafnia in the 1st quarter valued at $48,000.

About Hafnia

Hafnia Limited is a global maritime transportation company focused on the ownership and operation of product tankers. The company transports refined petroleum products, chemicals, and vegetable and animal oils for energy companies, commodity traders, and industrial customers.

Its activities include commercial management, chartering, vessel operations, and technical management. Hafnia operates across major international shipping routes and serves customers in key energy and commodity markets worldwide.

Hafnia is headquartered in Singapore and is part of the BW Group.

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