Hafnia (NYSE:HAFN) Hits New 1-Year Low - Here's What Happened

Hafnia Limited (NYSE:HAFN - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $4.05 and last traded at $4.04, with a volume of 3677701 shares changing hands. The stock had previously closed at $4.06.

Analyst Ratings Changes

Separately, Jefferies Financial Group cut their price objective on shares of Hafnia from $8.00 to $6.50 and set a "buy" rating on the stock in a report on Tuesday, December 17th.

Hafnia Stock Performance

The firm's 50 day moving average is $5.24 and its 200 day moving average is $6.04. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.52 and a current ratio of 1.70. The stock has a market cap of $2.22 billion and a P/E ratio of 2.58.

Hafnia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, March 7th will be paid a dividend of $0.0294 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.12 annualized dividend and a yield of 2.68%. Hafnia's dividend payout ratio (DPR) is 7.28%.

Institutional Investors Weigh In On Hafnia

Institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership grew its position in Hafnia by 125.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,754,312 shares of the company's stock worth $64,223,000 after purchasing an additional 6,530,482 shares during the last quarter. Vanguard Group Inc. grew its stake in Hafnia by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 11,113,978 shares of the company's stock valued at $59,449,000 after purchasing an additional 190,352 shares during the last quarter. Barclays PLC increased its holdings in shares of Hafnia by 60.7% in the fourth quarter. Barclays PLC now owns 4,395,133 shares of the company's stock valued at $24,481,000 after purchasing an additional 1,660,627 shares during the period. Marshall Wace LLP raised its stake in shares of Hafnia by 1,775.4% in the fourth quarter. Marshall Wace LLP now owns 2,124,012 shares of the company's stock worth $11,831,000 after purchasing an additional 2,010,753 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Hafnia by 6.4% in the fourth quarter. Nuveen Asset Management LLC now owns 1,773,846 shares of the company's stock worth $9,488,000 after purchasing an additional 106,567 shares during the last quarter.

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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.