Hafnia (NYSE:HAFN) Price Target Cut to $8.00 by Analysts at Jefferies Financial Group

Hafnia (NYSE:HAFN) had its target price cut by Jefferies Financial Group from $9.00 to $8.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Hafnia Price Performance

Shares of HAFN stock traded down $0.11 during trading hours on Thursday, hitting $5.30. The company had a trading volume of 1,336,449 shares, compared to its average volume of 608,871. Hafnia has a 12 month low of $5.13 and a 12 month high of $8.99. The firm has a market capitalization of $2.69 billion and a price-to-earnings ratio of 3.45. The firm’s fifty day moving average is $6.74 and its 200 day moving average is $7.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.49.

Hafnia (NYSE:HAFN) last released its quarterly earnings results on Friday, August 23rd. The company reported $0.51 EPS for the quarter, topping 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 analyst estimates of $387.14 million. On average, sell-side analysts predict that Hafnia will post 1.59 EPS for the current fiscal year.

Hafnia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a $0.4049 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.62 dividend on an annualized basis and a dividend yield of 30.56%. This is a boost from Hafnia’s previous quarterly dividend of $0.34. Hafnia’s dividend payout ratio is currently 103.19%.

Hedge Funds Weigh In On Hafnia

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in Hafnia during the second quarter worth approximately $107,651,000. Hsbc Holdings PLC bought a new stake in shares of Hafnia during the second quarter worth $24,514,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Hafnia during the second quarter worth $23,646,000. Bank of Montreal Can acquired a new position in shares of Hafnia during the third quarter worth $3,774,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Hafnia during the second quarter worth $4,327,000.

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.