Hafnia (NYSE:HAFN) Trading Down 2.6% – What’s Next?

Hafnia Limited (NYSE:HAFN) shares fell 2.6% during trading on Wednesday . The stock traded as low as $6.64 and last traded at $6.66. 1,774,707 shares were traded during trading, an increase of 295% from the average session volume of 449,832 shares. The stock had previously closed at $6.84.

Hafnia Price Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.49. The business’s 50-day simple moving average is $7.50. The firm has a market capitalization of $3.39 billion and a price-to-earnings ratio of 4.36.

Hafnia (NYSE:HAFN) last released its earnings results on Friday, August 23rd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. Hafnia had a return on equity of 34.28% and a net margin of 47.30%. The business had revenue of $417.36 million for the quarter, compared to the consensus estimate of $387.14 million. Equities research analysts predict that Hafnia Limited will post 1.6 EPS for the current year.

Hafnia Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a $0.4049 dividend. This represents a $1.62 annualized dividend and a dividend yield of 24.21%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Hafnia’s previous quarterly dividend of $0.34. Hafnia’s dividend payout ratio is presently 103.19%.

Hedge Funds Weigh In On Hafnia

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in Hafnia in the second quarter valued at approximately $2,421,000. Allspring Global Investments Holdings LLC bought a new position in Hafnia during the second quarter worth $60,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Hafnia in the second quarter valued at $528,000. TD Asset Management Inc bought a new position in shares of Hafnia in the second quarter valued at about $148,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Hafnia during the 2nd quarter worth about $107,651,000.

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.