Hafnia (NYSE:HAFN) Reaches New 12-Month High – Time to Buy?

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

Analysts Set New Price Targets

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

Hafnia Stock Performance

The company has a market capitalization of $5.29 billion, a PE ratio of 7.82 and a beta of 0.52. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.49 and a current ratio of 1.66. The company has a 50 day moving average price of $8.70 and a 200 day moving average price of $8.14.

Hafnia (NYSE:HAFN) last issued its quarterly earnings results on Saturday, August 29th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. The business had revenue of $834.53 million during 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 business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th were given a $0.5003 dividend. This represents a $2.00 annualized dividend and a dividend yield of 19.4%. The ex-dividend date of this dividend was Tuesday, September 8th. This is an increase from Hafnia’s previous quarterly dividend of $0.2877. Hafnia’s payout ratio is presently 151.52%.

Institutional Investors Weigh In On Hafnia

A number of institutional investors have recently modified their holdings of HAFN. Public Employees Retirement System of Ohio bought a new stake in Hafnia in the second quarter valued at about $2,307,000. Marnell Management LLC acquired a new stake in Hafnia during the fourth quarter valued at approximately $2,155,000. BTG Pactual Asset Management US LLC acquired a new stake in Hafnia during the second quarter valued at approximately $1,719,000. MHR Fund Management LLC lifted its holdings in Hafnia by 7.6% during the 4th quarter. MHR Fund Management LLC now owns 18,496,652 shares of the company’s stock worth $98,587,000 after buying an additional 1,309,938 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in Hafnia during the 1st quarter worth approximately $1,859,000.

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.