Hafnia (NYSE:HAFN) Shares Up 4.2% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reduced their price objective 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 Price Performance

The company has a current ratio of 1.49, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average is $6.71 and its 200 day moving average is $7.55. The company has a market cap of $2.67 billion and a P/E ratio of 3.35.

Hafnia (NYSE:HAFN) last posted its quarterly earnings results on Friday, August 23rd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.09. Hafnia had a return on equity of 34.28% and a net margin of 47.30%. The company had revenue of $417.36 million during the quarter, compared to the consensus estimate of $387.14 million. As a group, sell-side analysts anticipate that Hafnia Limited will post 1.59 EPS for the current year.

Hafnia Increases Dividend

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

Institutional Investors Weigh In On Hafnia

Several hedge funds and other institutional investors have recently modified their holdings of HAFN. Bank of New York Mellon Corp purchased a new position in shares of Hafnia during the 2nd quarter valued at $2,421,000. Allspring Global Investments Holdings LLC bought a new position in Hafnia in the 2nd quarter worth about $60,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Hafnia in the 2nd quarter valued at about $528,000. TD Asset Management Inc bought a new stake in shares of Hafnia during the 2nd quarter valued at about $148,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Hafnia during the second quarter worth about $107,651,000.

About Hafnia

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.