9,195 Shares in Scorpio Tankers Inc. (NYSE:STNG) Bought by Boothbay Fund Management LLC

Boothbay Fund Management LLC bought a new position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,195 shares of the shipping company's stock, valued at approximately $457,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in Scorpio Tankers by 12.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 92,820 shares of the shipping company's stock valued at $4,614,000 after purchasing an additional 10,016 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Scorpio Tankers during the fourth quarter valued at approximately $313,000. Stifel Financial Corp raised its holdings in Scorpio Tankers by 83.0% in the 4th quarter. Stifel Financial Corp now owns 9,857 shares of the shipping company's stock worth $490,000 after acquiring an additional 4,470 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Scorpio Tankers by 1,652.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,626 shares of the shipping company's stock valued at $230,000 after acquiring an additional 4,362 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Scorpio Tankers by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company's stock worth $174,512,000 after purchasing an additional 10,854 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on STNG shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $65.00 price objective on shares of Scorpio Tankers in a research report on Thursday. Stifel Nicolaus reduced their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a report on Friday, February 14th. Finally, Evercore ISI lowered their price target on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $60.50.

Scorpio Tankers Stock Performance

Shares of STNG traded up $0.84 during mid-day trading on Monday, reaching $40.60. The company had a trading volume of 1,168,089 shares, compared to its average volume of 899,988. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average of $37.39 and a two-hundred day moving average of $46.44. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $84.67. The stock has a market capitalization of $2.07 billion, a P/E ratio of 3.11 and a beta of -0.12.

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

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 3.94%. Scorpio Tankers's dividend payout ratio is presently 15.76%.

About Scorpio Tankers

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.