Hafnia Limited (NYSE:HAFN) Stock Rated “Buy” by Sell-Side Analysts

Hafnia Limited (NYSE:HAFN) has earned a consensus recommendation of “Buy” from the five brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $12.00.

A number of research analysts have recently issued reports on HAFN shares. Weiss Ratings upgraded shares of Hafnia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, September 21st. BTIG Research boosted their price target on Hafnia from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Pareto Securities upgraded Hafnia from a “hold” rating to a “buy” rating in a research note on Tuesday, September 29th. Finally, Wall Street Zen upgraded Hafnia from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st.

Hafnia Stock Performance

NYSE HAFN opened at $9.37 on Friday. Hafnia has a 1 year low of $5.17 and a 1 year high of $11.11. 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 has a market capitalization of $4.80 billion, a PE ratio of 7.09 and a beta of 0.46. The company’s 50 day simple moving average is $9.85 and its two-hundred day simple moving average is $8.11.

Hafnia (NYSE:HAFN) last released its quarterly earnings data on Saturday, August 29th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. The business 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 company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th were paid a $0.5003 dividend. This is an increase from Hafnia’s previous quarterly dividend of $0.2877. This represents a $2.00 annualized dividend and a dividend yield of 21.4%. The ex-dividend date of this dividend was Tuesday, September 8th. Hafnia’s payout ratio is currently 151.52%.

Institutional Investors Weigh In On Hafnia

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new position in shares of Hafnia during the third quarter valued at $7,912,000. Bank of America Corp DE raised its position in shares of Hafnia by 175.0% in the first quarter. Bank of America Corp DE now owns 571,705 shares of the company’s stock valued at $4,345,000 after buying an additional 363,821 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Hafnia during the 2nd quarter valued at about $2,307,000. BTG Pactual Asset Management US LLC acquired a new position in Hafnia in the second quarter worth $1,719,000. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Hafnia during the 1st quarter valued at $1,859,000.

Hafnia Company Profile

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.