Hafnia (NYSE:HAFN) Price Target Raised to $12.00

Hafnia (NYSE:HAFN) had its target price upped by BTIG Research from $10.00 to $12.00 in a research report sent to investors on Friday, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently weighed in on HAFN. Pareto Securities downgraded shares of Hafnia to a “hold” rating in a research note on Wednesday, May 27th. Weiss Ratings raised shares of Hafnia from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, September 3rd. Finally, Wall Street Zen upgraded shares of Hafnia from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Hafnia currently has an average rating of “Moderate Buy” and an average target price of $12.00.

Hafnia Stock Performance

Hafnia stock opened at $10.10 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.49 and a current ratio of 1.66. The stock has a fifty day moving average of $8.13 and a two-hundred day moving average of $7.91. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 7.65 and a beta of 0.65. Hafnia has a fifty-two week low of $5.17 and a fifty-two week high of $10.12.

Hafnia (NYSE:HAFN) last issued its quarterly earnings data 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 business had revenue of $834.53 million for the quarter, compared to the consensus estimate 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. Investors of record on Tuesday, September 8th were paid a $0.5003 dividend. The ex-dividend date was Tuesday, September 8th. This is an increase from Hafnia’s previous quarterly dividend of $0.29. This represents a $2.00 annualized dividend and a yield of 19.8%. Hafnia’s payout ratio is currently 151.52%.

Institutional Trading of Hafnia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HAFN. Cercano Management LLC purchased a new position in shares of Hafnia during the 4th quarter worth about $1,426,000. Marnell Management LLC purchased a new stake in Hafnia in the fourth quarter valued at approximately $2,155,000. UBS Group AG increased its position in Hafnia by 81.4% during the fourth quarter. UBS Group AG now owns 530,248 shares of the company’s stock worth $2,826,000 after purchasing an additional 237,958 shares during the last quarter. MHR Fund Management LLC increased its position in Hafnia by 7.6% during the fourth quarter. MHR Fund Management LLC now owns 18,496,652 shares of the company’s stock worth $98,587,000 after purchasing an additional 1,309,938 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Hafnia during the first quarter worth approximately $1,859,000.

Hafnia Company Profile

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.