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

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

Hafnia Stock Down 2.0 %

Shares of NYSE:HAFN traded down $0.11 during midday trading on Thursday, hitting $5.30. 1,336,449 shares of the company’s stock were exchanged, 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 company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 1.33. The stock has a 50 day moving average price of $6.74 and a 200-day moving average price of $7.56. The company has a market cap of $2.69 billion and a PE ratio of 3.45.

Hafnia (NYSE:HAFN) last released its earnings results on Friday, August 23rd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates 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, sell-side analysts anticipate that Hafnia will post 1.59 EPS for the current fiscal year.

Hafnia Increases Dividend

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

Hedge Funds Weigh In On Hafnia

Several institutional investors and hedge funds have recently made changes to their positions in HAFN. Acadian Asset Management LLC bought a new position in shares of Hafnia during the 2nd quarter valued at $107,651,000. Hsbc Holdings PLC purchased a new stake in shares of Hafnia in the 2nd quarter worth about $24,514,000. DekaBank Deutsche Girozentrale purchased a new position in Hafnia during the 2nd quarter valued at about $23,646,000. Bank of Montreal Can purchased a new position in Hafnia during the 3rd quarter valued at about $3,774,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in Hafnia during the 2nd quarter valued at about $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.