Hafnia (NYSE:HAFN) Downgraded by Wall Street Zen to Buy

Wall Street Zen cut shares of Hafnia (NYSE:HAFN) from a strong-buy rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

HAFN has been the subject of several other reports. BTIG Research increased their price objective on Hafnia from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. Weiss Ratings raised 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 issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.00.

Hafnia Price Performance

Shares of NYSE:HAFN opened at $8.90 on Friday. The company’s fifty day moving average is $8.31 and its two-hundred day moving average is $7.97. 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 has a 12-month low of $5.17 and a 12-month high of $10.12. The company has a market cap of $4.56 billion, a P/E ratio of 6.75 and a beta of 0.65.

Hafnia (NYSE:HAFN) last released its earnings results on Saturday, August 29th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Hafnia had a return on equity of 26.74% and a net margin of 56.72%.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 announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th were paid a $0.5003 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 22.5%. This is an increase from Hafnia’s previous quarterly dividend of $0.2877. The ex-dividend date was Tuesday, September 8th. Hafnia’s dividend payout ratio is presently 151.52%.

Institutional Investors Weigh In On Hafnia

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MHR Fund Management LLC grew its stake 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 valued at $98,587,000 after buying an additional 1,309,938 shares in the last quarter. Arrowstreet Capital Limited Partnership raised 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 valued at $82,532,000 after acquiring an additional 54,525 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Hafnia during the first quarter valued at approximately $32,205,000. Bank of New York Mellon Corp lifted its stake in Hafnia by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 1,681,217 shares of the company’s stock valued at $12,777,000 after acquiring an additional 22,351 shares during the last quarter. Finally, Corigliano Investment Advisers LLC lifted its stake in Hafnia by 98.5% in the fourth quarter. Corigliano Investment Advisers LLC now owns 663,093 shares of the company’s stock valued at $3,534,000 after acquiring an additional 329,093 shares during the last quarter.

Trending Headlines about Hafnia

Here are the key news stories impacting Hafnia this week:

• Positive Sentiment: Hafnia completed pricing of an offering of 35,488,875 new ordinary shares, raising gross proceeds of approximately $300 million. The capital provides additional financial flexibility and supports the company’s expansion strategy. Hafnia Raises USD 300 Million in Share Offering and Files U.S. Prospectus
• Positive Sentiment: Hafnia agreed to acquire another 1.7 million TORM A shares at $34 per share, increasing its ownership to approximately 19.85%. The move could strengthen Hafnia’s strategic position in the product-tanker market and provide greater influence over TORM. Hafnia Acquisition of an Additional 1.7 Million TORM Shares
• Neutral Sentiment: BW Group is lending a 7.1% Hafnia stake to facilitate settlement of the share offering. The arrangement should support transaction settlement, although the temporary availability of shares may contribute to trading-supply concerns. BW Group Lends 7.1% Hafnia Stake to Facilitate Share Offering Settlement
• Neutral Sentiment: Reports about hafnium oxide’s electrical properties and high-temperature stability concern an electronics material, not Hafnia Limited’s tanker-shipping business. They are unrelated to HAFN’s valuation. Discovery Confirms Rare Switchable Electrical Property
• Negative Sentiment: The equity financing substantially increases the share count, diluting existing holders. Coverage also indicates the new shares were sold at a discount, which can pressure the stock and raise questions about the near-term return from the TORM investment. Hafnia Sells $300 Million in New Shares at a Discount

Hafnia Company Profile

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.