Hafnia (NYSE:HAFN) Hits New 1-Year High – Time to Buy?

Hafnia Limited (NYSE:HAFNGet Free Report)’s stock price reached a new 52-week high on Friday . The stock traded as high as $9.59 and last traded at $9.5360, with a volume of 1151659 shares changing hands. The stock had previously closed at $9.36.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HAFN shares. Weiss Ratings raised shares of Hafnia from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, September 3rd. Wall Street Zen upgraded shares of Hafnia from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 30th. Finally, Pareto Securities lowered shares of 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 and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Hafnia currently has an average rating of “Moderate Buy”.

Read Our Latest Report on HAFN

Hafnia Stock Performance

The firm has a market capitalization of $4.85 billion, a P/E ratio of 7.16 and a beta of 0.65. The firm has a 50-day moving average price of $7.84 and a two-hundred day moving average price of $7.82. 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:HAFNGet Free Report) last issued its earnings results on Saturday, August 29th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. The firm 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be given a $0.5003 dividend. This is a positive change from Hafnia’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.00 annualized dividend and a yield of 21.2%. Hafnia’s dividend payout ratio is presently 151.52%.

Hedge Funds Weigh In On Hafnia

A number of institutional investors have recently modified their holdings of the stock. MHR Fund Management LLC boosted its holdings in shares of 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 purchasing an additional 1,309,938 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Hafnia by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 10,928,233 shares of the company’s stock worth $58,870,000 after buying an additional 69,992 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Hafnia by 0.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,797,281 shares of the company’s stock worth $82,532,000 after buying an additional 54,525 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Hafnia during the 1st quarter worth $32,205,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Hafnia by 17.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,870,521 shares of the company’s stock valued at $20,630,000 after acquiring an additional 571,909 shares in the last quarter.

About Hafnia

(Get Free Report)

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.

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