Hafnia (NYSE:HAFN) Trading 4.2% Higher – Should You Buy?

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

Analysts Set New Price Targets

Separately, Jefferies Financial Group cut their target price on shares of Hafnia from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday.

Hafnia Stock Down 2.8 %

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 stock has a 50-day moving average of $6.71 and a two-hundred day moving average of $7.55. The company has a market cap of $2.67 billion and a P/E ratio of 3.35.

Hafnia (NYSE:HAFN) last announced its quarterly earnings data on Friday, August 23rd. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. Hafnia had a net margin of 47.30% and a return on equity of 34.28%. The firm had revenue of $417.36 million during the quarter, compared to analyst estimates of $387.14 million. On average, research analysts anticipate that Hafnia Limited will post 1.59 EPS for the current fiscal year.

Hafnia Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.4049 per share. This is a boost from Hafnia’s previous quarterly dividend of $0.34. This represents a $1.62 dividend on an annualized basis and a dividend yield of 30.79%. The ex-dividend date of this dividend was Tuesday, September 3rd. Hafnia’s dividend payout ratio (DPR) is 103.19%.

Institutional Investors Weigh In On Hafnia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD purchased a new position in shares of Hafnia during the second quarter valued at approximately $43,000. Allspring Global Investments Holdings LLC purchased a new position in Hafnia during the 2nd quarter valued at $60,000. Prudential PLC purchased a new stake in shares of Hafnia in the 2nd quarter worth about $100,000. Infrastructure Capital Advisors LLC bought a new stake in shares of Hafnia during the 3rd quarter valued at about $119,000. Finally, TD Asset Management Inc purchased a new position in shares of Hafnia during the second quarter valued at about $148,000.

Hafnia Company Profile

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.