Boothbay Fund Management LLC Acquires Shares of 9,195 Scorpio Tankers Inc. (NYSE:STNG)

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

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of Scorpio Tankers by 12.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 92,820 shares of the shipping company's stock worth $4,614,000 after purchasing an additional 10,016 shares during the period. Dark Forest Capital Management LP bought a new position in Scorpio Tankers in the fourth quarter valued at approximately $313,000. Stifel Financial Corp raised its position in Scorpio Tankers by 83.0% during the fourth quarter. Stifel Financial Corp now owns 9,857 shares of the shipping company's stock valued at $490,000 after purchasing an additional 4,470 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of 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 purchasing an additional 4,362 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake 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 valued at $174,512,000 after purchasing an additional 10,854 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Analyst Upgrades and Downgrades

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

Scorpio Tankers Trading Down 0.6 %

Shares of STNG stock traded down $0.26 on Wednesday, hitting $40.42. The company had a trading volume of 258,311 shares, compared to its average volume of 899,612. Scorpio Tankers Inc. has a twelve month low of $30.63 and a twelve month high of $84.67. 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 firm has a market cap of $2.06 billion, a P/E ratio of 3.10 and a beta of -0.12. The stock's 50-day moving average is $37.38 and its two-hundred day moving average is $46.25.

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

Scorpio Tankers Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 3.96%. Scorpio Tankers's payout ratio is currently 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.