Hafnia (NYSE:HAFN) Sets New 12-Month High – Should You Buy?

Hafnia Limited (NYSE:HAFN)’s share price hit a new 52-week high during trading on Wednesday. The stock traded as high as $10.12 and last traded at $10.1060, with a volume of 605931 shares. The stock had previously closed at $9.67.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HAFN. Weiss Ratings upgraded Hafnia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, September 21st. Wall Street Zen downgraded Hafnia from a “strong-buy” rating to a “buy” rating in a report on Saturday. BTIG Research increased their price target on Hafnia from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, September 18th. Finally, Pareto Securities upgraded Hafnia from a “hold” rating to a “buy” rating in a research note on Tuesday. One research 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 company. According to MarketBeat.com, Hafnia presently has a consensus rating of “Buy” and a consensus target price of $12.00.

Hafnia Stock Up 2.9%

The stock has a 50 day moving average of $8.39 and a 200-day moving average of $8.00. The firm has a market capitalization of $5.10 billion, a P/E ratio of 7.54 and a beta of 0.65. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.49 and a current ratio of 1.66.

Hafnia (NYSE:HAFN) last released its quarterly earnings data on Saturday, August 29th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. The business had revenue of $834.53 million for the quarter, compared to the consensus estimate of $394.57 million. Hafnia had a net margin of 56.72% and a return on equity of 26.74%.

Hafnia Increases Dividend

The firm also recently declared 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 20.1%. This is an increase from Hafnia’s previous quarterly dividend of $0.2877. The ex-dividend date of this dividend was Tuesday, September 8th. Hafnia’s payout ratio is presently 151.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HAFN. MHR Fund Management LLC raised 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 valued at $98,587,000 after acquiring an additional 1,309,938 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Hafnia by 0.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 10,797,281 shares of the company’s stock worth $82,532,000 after acquiring an additional 54,525 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Hafnia in the first quarter worth $32,205,000. Bank of New York Mellon Corp boosted its holdings in shares of 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 worth $12,777,000 after acquiring an additional 22,351 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Hafnia by 175.0% in the first quarter. Bank of America Corp DE now owns 571,705 shares of the company’s stock valued at $4,345,000 after purchasing an additional 363,821 shares in the last quarter.

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.