Hafnia (NYSE:HAFN) Shares Up 3.9% – Still a Buy?

Hafnia Limited (NYSE:HAFN)’s stock price shot up 3.9% during 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.

Analysts Set New Price Targets

A number of research firms have commented on HAFN. Weiss Ratings raised shares of Hafnia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, September 21st. BTIG Research upped their price target on shares of Hafnia from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Finally, Wall Street Zen downgraded shares of Hafnia from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Hafnia Stock Performance

The firm’s 50 day simple moving average is $8.31 and its 200 day simple moving average is $7.97. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 6.94 and a beta of 0.65. 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) 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 company had revenue of $834.53 million for the quarter, compared to analyst estimates of $394.57 million. Hafnia had a net margin of 56.72% and a return on equity of 26.74%.

Hafnia Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 21.8%. This is an increase from Hafnia’s previous quarterly dividend of $0.2877. The ex-dividend date was Tuesday, September 8th. Hafnia’s payout ratio is currently 151.52%.

Institutional Investors Weigh In On Hafnia

A number of institutional investors have recently added to or reduced their stakes in the stock. Cercano Management LLC acquired a new position in shares of Hafnia during the fourth quarter valued at approximately $1,426,000. Marnell Management LLC acquired a new stake in shares of Hafnia in the fourth quarter worth approximately $2,155,000. MHR Fund Management LLC boosted its stake in shares of Hafnia by 7.6% in the fourth quarter. MHR Fund Management LLC now owns 18,496,652 shares of the company’s stock worth $98,587,000 after acquiring an additional 1,309,938 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Hafnia during the first quarter worth approximately $1,859,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Hafnia during the second quarter worth approximately $2,307,000.

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.