Hafnia (NYSE:HAFN) Trading Up 4.2% – Here’s What Happened

Hafnia Limited (NYSE:HAFN) shares shot up 4.2% on Thursday . The company traded as high as $5.48 and last traded at $5.45. 346,191 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 597,432 shares. The stock had previously closed at $5.23.

Hafnia Stock Up 3.3 %

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.49. The company has a market cap of $2.74 billion and a price-to-earnings ratio of 3.45. The stock’s fifty day moving average is $6.74 and its two-hundred day moving average is $7.56.

Hafnia (NYSE:HAFN) last issued its quarterly earnings results on Friday, August 23rd. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. Hafnia had a return on equity of 34.28% and a net margin of 47.30%. The company had revenue of $417.36 million during the quarter, compared to the consensus estimate of $387.14 million. Sell-side analysts predict that Hafnia Limited will post 1.59 earnings per share for the current fiscal year.

Hafnia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.4049 per share. This represents a $1.62 dividend on an annualized basis and a yield of 29.99%. The ex-dividend date was Tuesday, September 3rd. This is an increase from Hafnia’s previous quarterly dividend of $0.34. Hafnia’s payout ratio is currently 103.19%.

Institutional Investors Weigh In On Hafnia

Institutional investors and hedge funds have recently bought and sold shares of the business. Mondrian Investment Partners LTD bought a new position in shares of Hafnia in the 2nd quarter worth approximately $43,000. Allspring Global Investments Holdings LLC bought a new position in shares of Hafnia in the 2nd quarter worth approximately $60,000. Prudential PLC bought a new position in shares of Hafnia in the 2nd quarter worth approximately $100,000. Infrastructure Capital Advisors LLC bought a new position in shares of Hafnia in the 3rd quarter worth approximately $119,000. Finally, TD Asset Management Inc bought a new position in shares of Hafnia in the 2nd quarter worth approximately $148,000.

About Hafnia

Hafnia Limited owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), Handy size, and Specialized segments. The company transports clean and dirty, refined oil products, vegetable oil, and easy chemicals to national and international oil companies, and chemical companies, as well as trading and utility companies; and owns and operates 200 vessels.