Hafnia (NYSE:HAFN) Reaches New 52-Week High – Here’s Why

Shares of Hafnia Limited (NYSE:HAFN) reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $11.12 and last traded at $10.9150, with a volume of 1,341,510 shares trading hands. The stock had previously closed at $10.61.

Analyst Ratings Changes

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

Hafnia Price Performance

The firm has a fifty day moving average price of $9.49 and a two-hundred day moving average price of $7.93. The stock has a market capitalization of $5.58 billion, a P/E ratio of 8.25 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.

Hafnia (NYSE:HAFN) last released 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. Hafnia had a return on equity of 26.74% and a net margin of 56.72%. The firm had revenue of $834.53 million for the quarter, compared to the consensus estimate of $394.57 million.

Hafnia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 8th were given a dividend of $0.5003 per share. This represents a $2.00 dividend on an annualized basis and a yield of 18.4%. This is a boost from Hafnia’s previous quarterly dividend of $0.2877. The ex-dividend date was Tuesday, September 8th. Hafnia’s dividend payout ratio (DPR) is currently 151.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pictet Asset Management Holding SA boosted its position in Hafnia by 1.8% in the first quarter. Pictet Asset Management Holding SA now owns 91,384 shares of the company’s stock worth $700,000 after purchasing an additional 1,650 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in shares of Hafnia by 3.8% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 93,010 shares of the company’s stock valued at $936,000 after purchasing an additional 3,413 shares during the last quarter. Amundi increased its position in shares of Hafnia by 5.4% during the 1st quarter. Amundi now owns 67,213 shares of the company’s stock valued at $511,000 after purchasing an additional 3,465 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of Hafnia by 7.0% in the 1st quarter. Quantinno Capital Management LP now owns 55,859 shares of the company’s stock worth $425,000 after purchasing an additional 3,639 shares during the period. Finally, Aristides Capital LLC lifted its stake in shares of Hafnia by 12.9% in the 1st quarter. Aristides Capital LLC now owns 37,882 shares of the company’s stock worth $288,000 after purchasing an additional 4,334 shares during the period.

Hafnia Company Profile

Hafnia Limited is a global owner and operator of product tankers that transport refined petroleum products, chemicals, and vegetable oils. The company provides maritime transportation services to energy companies, commodity traders, and industrial customers through a fleet of vessels serving international shipping routes.

In addition to owning and operating tankers, Hafnia offers commercial management, chartering, pool management, and technical and operational services. Its activities span the transportation of clean petroleum products, including gasoline, diesel, and jet fuel, as well as other liquid cargoes.

Hafnia is headquartered in Singapore and operates internationally, with activities and offices serving major energy and shipping markets.