Sector Update: Energy Stocks Rise in Friday Afternoon Trading
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 23 2024
0mins
Source: NASDAQ.COM
Energy Market Performance: Energy stocks experienced gains, with the NYSE Energy Sector Index rising 1.7%, and crude oil prices increasing by over 2% for both West Texas Intermediate and Brent benchmarks.
Corporate Developments: Halliburton's stock rose after a security breach was reported, while Hafnia saw a significant increase in shares following positive earnings; Equinor's stock also gained despite its decision to withdraw from offshore wind projects in Vietnam.
Analyst Views on HAFN
Wall Street analysts forecast HAFN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HAFN is 8.21 USD with a low forecast of 6.42 USD and a high forecast of 10.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 5.830
Low
6.42
Averages
8.21
High
10.00
Current: 5.830
Low
6.42
Averages
8.21
High
10.00
About HAFN
Hafnia Limited is a tanker company. The principal activity of the Company is investment holding. The Company’s segments include Long Range II (LR2), Long Range I (LR1), Medium Range (MR), Handy, and Specialised. The LR2 segment consists of vessels between 85,000 deadweight tons (DWT) and 124,999 DWT in size and provides transportation of clean petroleum oil products. The LR1 segment consists of vessels between 55,000 DWT and 84,999 DWT in size and provides transportation of clean and dirty petroleum products. The MR segment consists of vessels between 40,000 DWT and 54,999 DWT in size. The Handy segment consists of vessels between 25,000 DWT and 39,999 DWT in size and provides transportation of clean and dirty oil products, vegetable oil, and easy chemicals. The Specialised segment consists of vessels between 5,000 DWT and 19,999 DWT in size. Its subsidiaries include Hafnia Pte. Ltd., Hafnia Tankers Marshall Islands LLC, Hafnia Holding Limited, and Hafnia Holding II Limited.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
