JPMorgan Chase & Co. Sells 143,322 Shares of Hafnia Limited (NYSE:HAFN)

JPMorgan Chase & Co. decreased its position in shares of Hafnia Limited (NYSE:HAFN - Free Report) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,962,903 shares of the company's stock after selling 143,322 shares during the period. JPMorgan Chase & Co. owned 0.58% of Hafnia worth $21,214,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in Hafnia in the 2nd quarter valued at approximately $2,421,000. TD Asset Management Inc bought a new stake in Hafnia in the 2nd quarter valued at $148,000. Prudential PLC bought a new position in shares of Hafnia during the 2nd quarter worth about $100,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Hafnia during the 2nd quarter valued at about $23,646,000. Finally, Mondrian Investment Partners LTD bought a new stake in Hafnia in the second quarter valued at about $43,000.

Hafnia Trading Down 2.3 %

Shares of Hafnia stock traded down $0.13 during trading on Thursday, reaching $5.57. 1,864,317 shares of the company were exchanged, compared to its average volume of 2,276,903. The business has a 50-day moving average price of $5.48 and a 200-day moving average price of $6.79. The firm has a market capitalization of $2.82 billion and a price-to-earnings ratio of 3.28. The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. Hafnia Limited has a twelve month low of $4.99 and a twelve month high of $8.99.

Hafnia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, December 6th were paid a $0.379 dividend. This represents a $1.52 annualized dividend and a yield of 27.22%. The ex-dividend date was Friday, December 6th. Hafnia's payout ratio is presently 88.82%.

Analyst Upgrades and Downgrades

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

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.