Hafnia (NYSE:HAFN) Sets New 12-Month High – Here’s Why

Hafnia Limited (NYSE:HAFN) reached a new 52-week high on Thursday . The stock traded as high as $9.84 and last traded at $9.7080, with a volume of 2281851 shares changing hands. The stock had previously closed at $9.48.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Hafnia from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 30th. Weiss Ratings upgraded Hafnia from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, September 3rd. BTIG Research lifted their target price on shares of Hafnia from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Pareto Securities cut Hafnia to a “hold” rating in a research report on Wednesday, May 27th. One research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Hafnia Stock Up 3.9%

The stock’s 50 day simple moving average is $8.13 and its two-hundred day simple moving average is $7.91. The firm has a market cap of $5.17 billion, a P/E ratio of 7.65 and a beta of 0.65. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.49.

Hafnia (NYSE:HAFN) last announced its earnings results on Saturday, August 29th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.02. The company 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 company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th were paid a dividend of $0.5003 per share. This is an increase from Hafnia’s previous quarterly dividend of $0.29. This represents a $2.00 annualized dividend and a dividend yield of 19.8%. The ex-dividend date was Tuesday, September 8th. Hafnia’s payout ratio is 151.52%.

Institutional Trading of Hafnia

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. purchased a new position in shares of Hafnia in the 1st quarter valued at about $48,000. Aristides Capital LLC acquired a new position in Hafnia in the fourth quarter valued at approximately $179,000. Shariaportfolio Inc. acquired a new position in Hafnia in the first quarter valued at approximately $273,000. Squarepoint Ops LLC purchased a new position in Hafnia in the second quarter worth approximately $410,000. Finally, Quantinno Capital Management LP increased its stake in Hafnia by 7.0% during the first quarter. Quantinno Capital Management LP now owns 55,859 shares of the company’s stock worth $425,000 after acquiring an additional 3,639 shares during the last quarter.

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.