Balyasny Asset Management L.P. Purchases New Stake in Scorpio Tankers Inc. (NYSE:STNG)

Balyasny Asset Management L.P. bought a new stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 290,323 shares of the shipping company's stock, valued at approximately $14,426,000. Balyasny Asset Management L.P. owned 0.57% of Scorpio Tankers as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in STNG. GAMMA Investing LLC increased its position in shares of Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after acquiring an additional 402 shares in the last quarter. Lindbrook Capital LLC lifted its stake in shares of Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock worth $30,000 after buying an additional 263 shares during the last quarter. Covestor Ltd raised its stake in Scorpio Tankers by 1,375.0% in the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company's stock worth $41,000 after purchasing an additional 770 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Scorpio Tankers by 40.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after purchasing an additional 266 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Scorpio Tankers by 850.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock valued at $49,000 after buying an additional 876 shares during the period. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Trading Up 0.2%

Shares of NYSE STNG traded up $0.09 during midday trading on Tuesday, reaching $42.20. The stock had a trading volume of 775,288 shares, compared to its average volume of 899,276. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. Scorpio Tankers Inc. has a twelve month low of $30.63 and a twelve month high of $84.67. The company's 50 day moving average price is $37.53 and its 200 day moving average price is $45.47. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 3.24 and a beta of -0.12.

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

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 3.79%. Scorpio Tankers's payout ratio is 15.76%.

Analyst Ratings Changes

STNG has been the topic of a number of research reports. Stifel Nicolaus reduced their target price 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. Evercore ISI reduced their target price on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Jefferies Financial Group reissued a "buy" rating and set a $65.00 target price on shares of Scorpio Tankers in a report on Thursday, May 1st. Finally, Fearnley Fonds raised shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" 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.