Hafnia (NYSE:HAFN) Trading Down 3.4% - Should You Sell?

Key Points

• Hafnia shares fell 3.4% to about $9.38 in midday trading, on volume well below the average session level.
• Analysts maintain a generally positive outlook, with the stock rated “Moderate Buy” and a consensus price target of $12.00, including BTIG’s increase from $10 to $12.
• Hafnia reported quarterly EPS of $0.56, above the $0.54 consensus estimate, and increased its quarterly dividend to $0.5003 per share—an annualized yield of approximately 21.3%.

Hafnia Limited (NYSE:HAFN - Get Free Report) was down 3.4% during mid-day trading on Tuesday . The company traded as low as $9.20 and last traded at $9.3840. 408,983 shares were traded during trading, a decline of 76% from the average session volume of 1,707,964 shares. The stock had previously closed at $9.71.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HAFN. Weiss Ratings upgraded Hafnia from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, September 3rd. Pareto Securities cut Hafnia to a "hold" rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of Hafnia from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 30th. Finally, 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 report on Friday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Hafnia presently has an average rating of "Moderate Buy" and a consensus price target of $12.00.

Hafnia Stock Down 3.0%

The company has a quick ratio of 1.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 7.13 and a beta of 0.65. The business has a 50-day moving average price of $8.18 and a 200-day moving average price of $7.93.

Hafnia (NYSE:HAFN - Get Free Report) last posted its quarterly earnings data 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 return on equity of 26.74% and a net margin of 56.72%.The firm had revenue of $834.53 million for the quarter, compared to the consensus estimate of $394.57 million.

Hafnia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 8th were given a dividend of $0.5003 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This is a positive change from Hafnia's previous quarterly dividend of $0.29. This represents a $2.00 annualized dividend and a yield of 21.3%. Hafnia's payout ratio is presently 151.52%.

Institutional Investors Weigh In On Hafnia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HAFN. MHR Fund Management LLC boosted its position in Hafnia by 7.6% during the fourth 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 period. Arrowstreet Capital Limited Partnership increased its position in Hafnia by 0.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 10,797,281 shares of the company's stock worth $82,532,000 after acquiring an additional 54,525 shares during the period. Assenagon Asset Management S.A. acquired a new position in Hafnia during the 1st quarter valued at $32,205,000. Bank of New York Mellon Corp raised its stake in Hafnia by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,681,217 shares of the company's stock valued at $12,777,000 after purchasing an additional 22,351 shares during the last quarter. Finally, Corigliano Investment Advisers LLC boosted its holdings in Hafnia by 98.5% in the 4th quarter. Corigliano Investment Advisers LLC now owns 663,093 shares of the company's stock valued at $3,534,000 after purchasing an additional 329,093 shares during the period.

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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