Hafnia (NYSE:HAFN) Shares Down 3.4% – Time to Sell?

Hafnia Limited (NYSE:HAFN)’s share price was down 3.4% during trading on Tuesday . The stock traded as low as $9.20 and last traded at $9.3840. Approximately 408,983 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,707,964 shares. The stock had previously closed at $9.71.

Analysts Set New Price Targets

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

Hafnia Trading Down 3.0%

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.49. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 7.13 and a beta of 0.65. The business has a 50 day simple moving average of $8.18 and a 200 day simple moving average of $7.93.

Hafnia (NYSE:HAFN) last posted its quarterly earnings data on Saturday, August 29th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. Hafnia had a net margin of 56.72% and a return on equity of 26.74%. The firm had revenue of $834.53 million during the quarter, compared to analysts’ expectations 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 issued a $0.5003 dividend. This represents a $2.00 annualized dividend and a yield of 21.3%. This is a boost from Hafnia’s previous quarterly dividend of $0.29. The ex-dividend date was Tuesday, September 8th. Hafnia’s dividend payout ratio (DPR) is 151.52%.

Hedge Funds Weigh In On Hafnia

Several institutional investors have recently modified their holdings of the business. MHR Fund Management LLC lifted its stake in Hafnia by 7.6% in the fourth 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 lifted its position in Hafnia by 0.5% in the 1st 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. acquired a new position in Hafnia in the 1st quarter worth $32,205,000. Bank of New York Mellon Corp increased its holdings in Hafnia by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,681,217 shares of the company’s stock worth $12,777,000 after purchasing an additional 22,351 shares in the last quarter. Finally, Corigliano Investment Advisers LLC raised its stake in shares of Hafnia by 98.5% in the 4th quarter. Corigliano Investment Advisers LLC now owns 663,093 shares of the company’s stock valued at $3,534,000 after purchasing an additional 329,093 shares during the period.

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.