Hafnia (NYSE:HAFN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Hafnia (NYSE:HAFN) from a buy rating to a strong-buy rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on the company. BTIG Research increased their target price on Hafnia from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Pareto Securities raised Hafnia from a “hold” rating to a “buy” rating in a research report on Tuesday, September 29th. Finally, Weiss Ratings raised shares of Hafnia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $12.00.

Hafnia Stock Down 6.3%

Shares of NYSE:HAFN opened at $10.19 on Friday. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 8.21 and a beta of 0.52. The business’s 50-day moving average is $9.72 and its 200-day moving average is $8.03. 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 has a 1 year low of $5.17 and a 1 year high of $11.11.

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

Hafnia Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th were issued a dividend of $0.5003 per share. This represents a $2.00 dividend on an annualized basis and a yield of 19.6%. The ex-dividend date of this dividend was Tuesday, September 8th. This is a positive change from Hafnia’s previous quarterly dividend of $0.2877. Hafnia’s payout ratio is presently 151.52%.

Institutional Trading of Hafnia

A number of hedge funds and other institutional investors have recently bought and sold shares of HAFN. Shariaportfolio Inc. bought a new position in shares of Hafnia in the first quarter worth $273,000. Aristides Capital LLC raised its position in shares of Hafnia by 12.9% in the first quarter. Aristides Capital LLC now owns 37,882 shares of the company’s stock worth $288,000 after buying an additional 4,334 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Hafnia by 7.0% during the first quarter. Quantinno Capital Management LP now owns 55,859 shares of the company’s stock valued at $425,000 after buying an additional 3,639 shares during the period. Squarepoint Ops LLC bought a new stake in Hafnia during the second quarter valued at $410,000. Finally, Amundi boosted its stake in Hafnia by 5.4% during the first quarter. Amundi now owns 67,213 shares of the company’s stock valued at $511,000 after buying an additional 3,465 shares during the period.

About Hafnia

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.