Hafnia (NYSE:HAFN) Upgraded at Fearnley Fonds

Fearnley Fonds upgraded shares of Hafnia (NYSE:HAFN) from a hold rating to a strong-buy rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hafnia in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Hafnia has a consensus rating of “Buy” and an average target price of $6.50.

Hafnia Price Performance

Shares of HAFN stock opened at $5.95 on Tuesday. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 9.75 and a beta of 0.96. Hafnia has a 12 month low of $3.61 and a 12 month high of $6.64. The company has a quick ratio of 1.09, a current ratio of 1.52 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $6.13 and a 200 day moving average price of $5.76.

Hafnia (NYSE:HAFN) last issued its earnings results on Monday, December 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. Hafnia had a net margin of 29.50% and a return on equity of 13.50%. The company had revenue of $247.00 million for the quarter, compared to analyst estimates of $256.84 million.

Hafnia Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Tuesday, December 9th will be issued a dividend of $0.147 per share. This is an increase from Hafnia’s previous quarterly dividend of $0.12. This represents a $0.59 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date is Tuesday, December 9th. Hafnia’s dividend payout ratio is presently 78.69%.

Hedge Funds Weigh In On Hafnia

Hedge funds and other institutional investors have recently made changes to their positions in the company. MHR Fund Management LLC increased its position in shares of Hafnia by 24.0% in the 3rd quarter. MHR Fund Management LLC now owns 17,186,714 shares of the company’s stock valued at $102,948,000 after buying an additional 3,321,182 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Hafnia by 1.4% during the first quarter. Vanguard Group Inc. now owns 11,267,262 shares of the company’s stock worth $46,466,000 after acquiring an additional 153,284 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Hafnia by 0.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 10,742,756 shares of the company’s stock valued at $64,522,000 after acquiring an additional 54,905 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Hafnia by 62.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,130,888 shares of the company’s stock worth $8,738,000 after acquiring an additional 817,737 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Hafnia by 2,389.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 827,583 shares of the company’s stock worth $4,130,000 after acquiring an additional 794,334 shares in the last quarter.

About Hafnia

Hafnia Limited owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), Handy size, and Specialized segments. The company transports clean and dirty, refined oil products, vegetable oil, and easy chemicals to national and international oil companies, and chemical companies, as well as trading and utility companies; and owns and operates 200 vessels.