11,367 Shares in Scorpio Tankers Inc. (NYSE:STNG) Bought by 4WEALTH Advisors Inc.

4WEALTH Advisors Inc. bought a new position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,367 shares of the shipping company's stock, valued at approximately $565,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Scorpio Tankers by 266.2% during the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company's stock valued at $129,870,000 after purchasing an additional 1,899,981 shares in the last quarter. Cooper Creek Partners Management LLC boosted its position in Scorpio Tankers by 380.0% during the 4th quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company's stock valued at $109,098,000 after acquiring an additional 1,738,190 shares in the last quarter. Norges Bank purchased a new position in shares of Scorpio Tankers during the 4th quarter worth approximately $30,374,000. Vanguard Group Inc. raised its position in shares of Scorpio Tankers by 22.3% in the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company's stock worth $124,786,000 after acquiring an additional 458,120 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Scorpio Tankers in the 4th quarter valued at approximately $11,190,000. 54.64% of the stock is owned by institutional investors.

Scorpio Tankers Stock Down 1.2 %

Shares of NYSE:STNG traded down $0.48 during trading on Wednesday, reaching $40.20. 420,236 shares of the stock traded hands, compared to its average volume of 900,193. The stock has a market cap of $2.05 billion, a P/E ratio of 3.09 and a beta of -0.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The stock has a 50-day moving average of $37.41 and a two-hundred day moving average of $46.22. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.32. Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. The business had revenue of $204.20 million during the quarter, compared to analyst estimates of $205.89 million. During the same quarter last year, the company earned $3.97 EPS. The company's quarterly revenue was down 45.3% compared to the same quarter last year. As a group, sell-side analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Friday, May 30th. Scorpio Tankers's dividend payout ratio (DPR) is currently 15.76%.

Analyst Ratings Changes

A number of research firms have issued reports on STNG. Evercore ISI decreased their price objective on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Jefferies Financial Group reissued a "buy" rating and set a $65.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 1st. Finally, Stifel Nicolaus cut their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Scorpio Tankers presently has a consensus rating of "Hold" and an average price target of $60.50.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.