Hafnia (NYSE:HAFN) Sees Large Volume Increase After Dividend Announcement

Hafnia Limited (NYSE:HAFN) shares saw strong trading volume on Wednesday after the company announced a dividend. 718,313 shares traded hands during mid-day trading, an increase of 10% from the previous session’s volume of 650,520 shares.The stock last traded at $5.50 and had previously closed at $5.33.

The newly announced dividend which will be paid on Tuesday, December 17th. Shareholders of record on Friday, December 6th will be given a dividend of $0.379 per share. The ex-dividend date is Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 26.88%. Hafnia’s dividend payout ratio (DPR) is 103.18%.

Analyst Ratings Changes

Separately, Jefferies Financial Group lowered their price objective on shares of Hafnia from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th.

Hafnia Stock Performance

The company has a fifty day moving average price of $6.34 and a two-hundred day moving average price of $7.38. The firm has a market cap of $2.86 billion and a price-to-earnings ratio of 3.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 1.33.

Institutional Investors Weigh In On Hafnia

A number of institutional investors and hedge funds have recently bought and sold shares of HAFN. Bank of New York Mellon Corp acquired a new position in shares of Hafnia in the 2nd quarter worth approximately $2,421,000. Allspring Global Investments Holdings LLC acquired a new position in Hafnia in the second quarter worth approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Hafnia in the second quarter valued at $528,000. TD Asset Management Inc acquired a new stake in shares of Hafnia during the 2nd quarter valued at $148,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Hafnia during the 2nd quarter worth $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.