Hafnia (NYSE:HAFN) Rating Increased to Strong-Buy at Fearnley Fonds

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

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

Hafnia Trading Up 2.1%

Shares of NYSE:HAFN traded up $0.13 on Tuesday, hitting $6.00. The company had a trading volume of 696,775 shares, compared to its average volume of 1,785,001. The firm’s 50-day simple moving average is $6.14 and its two-hundred day simple moving average is $5.76. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 9.83 and a beta of 0.96. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 0.27. Hafnia has a 1 year low of $3.61 and a 1 year high of $6.64.

Hafnia (NYSE:HAFN) last announced its quarterly 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 13.58%. The company had revenue of $247.00 million for the quarter, compared to analysts’ expectations of $256.84 million.

Hafnia Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Tuesday, December 9th will be paid a dividend of $0.147 per share. This is a positive change from Hafnia’s previous quarterly dividend of $0.12. This represents a $0.59 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date of this dividend is Tuesday, December 9th. Hafnia’s payout ratio is 56.47%.

Institutional Trading of Hafnia

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Avantax Advisory Services Inc. purchased a new position in Hafnia during the first quarter valued at $47,000. TD Asset Management Inc increased its holdings in shares of Hafnia by 38.5% during the first quarter. TD Asset Management Inc now owns 28,406 shares of the company’s stock valued at $116,000 after acquiring an additional 7,892 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Hafnia by 17.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 94,299 shares of the company’s stock worth $387,000 after purchasing an additional 14,284 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Hafnia by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 11,267,262 shares of the company’s stock worth $46,466,000 after purchasing an additional 153,284 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Hafnia by 7.3% in the 1st quarter. Swiss National Bank now owns 596,388 shares of the company’s stock worth $2,442,000 after purchasing an additional 40,536 shares in the last quarter.

Hafnia Company Profile

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.