Hafnia (NYSE:HAFN) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Hafnia (NYSE:HAFN) from a buy rating to a hold rating in a research note published on Sunday morning.

HAFN has been the topic of several other research reports. Dnb Carnegie downgraded shares of Hafnia from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hafnia in a research note on Wednesday, December 24th. Finally, Fearnley Fonds upgraded shares of Hafnia from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Hafnia Stock Performance

NYSE:HAFN opened at $7.65 on Friday. The stock has a 50-day moving average price of $6.70 and a 200 day moving average price of $6.22. Hafnia has a 12-month low of $3.61 and a 12-month high of $7.95. The company has a current ratio of 1.53, a quick ratio of 1.40 and a debt-to-equity ratio of 0.40.

Hafnia (NYSE:HAFN) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. Hafnia had a return on equity of 14.71% and a net margin of 35.54%.The company had revenue of $599.88 million for the quarter, compared to analysts’ expectations of $285.64 million.

Hafnia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, March 6th were paid a $0.1762 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date of this dividend was Friday, March 6th. This is a positive change from Hafnia’s previous quarterly dividend of $0.15. Hafnia’s dividend payout ratio is presently 102.94%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Hafnia by 82.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 431,462 shares of the company’s stock valued at $1,795,000 after purchasing an additional 194,751 shares in the last quarter. Jane Street Group LLC raised its stake in Hafnia by 241.6% during the first quarter. Jane Street Group LLC now owns 815,341 shares of the company’s stock valued at $3,392,000 after purchasing an additional 576,629 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Hafnia by 26.8% during the second quarter. JPMorgan Chase & Co. now owns 233,532 shares of the company’s stock valued at $1,165,000 after purchasing an additional 49,409 shares in the last quarter. Legal & General Group Plc lifted its position in Hafnia by 14.5% during the second quarter. Legal & General Group Plc now owns 731,651 shares of the company’s stock valued at $3,660,000 after purchasing an additional 92,514 shares during the last quarter. Finally, J.W. Cole Advisors Inc. bought a new position in Hafnia during the second quarter valued at $55,000.

Hafnia Company Profile

Hafnia is a global shipping company listed on the New York Stock Exchange under the ticker HAFN. The firm specializes in the marine transportation of refined petroleum products, providing safe and reliable shipping solutions across key global trade lanes. Its core operations focus on the carriage of gasoline, diesel, jet fuel and other clean petroleum products, catering to the needs of oil majors, trading houses and independent refiners.

The company operates a modern fleet of double-hulled product tankers, managed to comply with stringent safety and environmental standards.