Hafnia (NYSE:HAFN) Upgraded to “Strong-Buy” at Wall Street Zen

by · The Markets Daily

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

Other analysts also recently issued research reports about the stock. BTIG Research boosted their price objective on shares of Hafnia from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, September 18th. Pareto Securities upgraded 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 report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $12.00.

Check Out Our Latest Analysis on Hafnia

Hafnia Stock Performance

Shares of NYSE HAFN opened at $10.89 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.49. The stock’s fifty day moving average price is $9.68 and its two-hundred day moving average price is $8.01. Hafnia has a one year low of $5.17 and a one year high of $11.11. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 8.25 and a beta of 0.52.

Hafnia (NYSE:HAFN – Get Free Report) last posted its quarterly earnings data on Saturday, August 29th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $394.57 million.

Hafnia Increases Dividend

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

Institutional Investors Weigh In On Hafnia

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in Hafnia by 175.0% during the first quarter. Bank of America Corp DE now owns 571,705 shares of the company’s stock valued at $4,345,000 after acquiring an additional 363,821 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Hafnia in the 2nd quarter worth about $2,307,000. BTG Pactual Asset Management US LLC bought a new position in shares of Hafnia in the 2nd quarter worth about $1,719,000. Segall Bryant & Hamill LLC bought a new position in shares of Hafnia in the 1st quarter worth about $1,859,000. Finally, CWA Asset Management Group LLC raised its position in shares of Hafnia by 46.6% in the 3rd quarter. CWA Asset Management Group LLC now owns 739,605 shares of the company’s stock worth $7,352,000 after acquiring an additional 235,043 shares in the last quarter.

About Hafnia

(Get Free Report)

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.

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