Hafnia (NYSE:HAFN) Price Target Lowered to $8.00 at Jefferies Financial Group

Hafnia (NYSE:HAFN) had its target price trimmed by Jefferies Financial Group from $9.00 to $8.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Hafnia Price Performance

Shares of NYSE HAFN opened at $5.27 on Thursday. The stock has a market cap of $2.67 billion and a P/E ratio of 3.36. Hafnia has a twelve month low of $5.13 and a twelve month high of $8.99. The stock has a 50 day moving average of $6.67 and a two-hundred day moving average of $7.53. The company has a current ratio of 1.49, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33.

Hafnia (NYSE:HAFN) last released its quarterly earnings results on Friday, August 23rd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.42 by $0.09. The firm had revenue of $417.36 million during the quarter, compared to the consensus estimate of $387.14 million. Hafnia had a net margin of 47.30% and a return on equity of 34.28%. On average, research analysts forecast that Hafnia will post 1.44 earnings per share for the current year.

Hafnia Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.4049 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Hafnia’s previous quarterly dividend of $0.34. This represents a $1.62 annualized dividend and a yield of 30.73%. Hafnia’s dividend payout ratio is currently 103.19%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HAFN. Acadian Asset Management LLC purchased a new position in Hafnia in the 2nd quarter valued at $107,651,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Hafnia by 10.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock worth $21,350,000 after acquiring an additional 290,000 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Hafnia in the second quarter valued at about $24,514,000. Barclays PLC increased its stake in shares of Hafnia by 72.7% during the third quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock worth $19,580,000 after acquiring an additional 1,151,528 shares during the period. Finally, Bank of Montreal Can purchased a new position in Hafnia during the third quarter worth about $3,774,000.

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.