Bridgeway Capital Management LLC Purchases Shares of 141,750 Scorpio Tankers Inc. (NYSE:STNG)

Bridgeway Capital Management LLC bought a new stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 141,750 shares of the shipping company's stock, valued at approximately $7,044,000. Bridgeway Capital Management LLC owned approximately 0.28% of Scorpio Tankers as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after purchasing an additional 402 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after acquiring an additional 263 shares during the period. Covestor Ltd increased its stake in shares of Scorpio Tankers by 1,375.0% in the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company's stock valued at $41,000 after purchasing an additional 770 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Scorpio Tankers by 40.1% in the fourth 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 stake in Scorpio Tankers by 850.5% during 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. Hedge funds and other institutional investors own 54.64% of the company's stock.

Scorpio Tankers Trading Up 2.3%

Shares of STNG stock traded up $0.93 during trading hours on Monday, reaching $42.05. 377,722 shares of the stock traded hands, compared to its average volume of 897,603. The business has a fifty day moving average price of $37.48 and a 200 day moving average price of $45.61. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $84.67. 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 firm has a market capitalization of $2.15 billion, a PE ratio of 3.22 and a beta of -0.12.

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

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers's dividend payout ratio is presently 15.76%.

Analyst Ratings Changes

STNG has been the topic of a number of research reports. Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Evercore ISI reduced their target price on shares of 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 reaffirmed a "buy" rating and issued a $65.00 price target on shares of Scorpio Tankers in a report on Thursday, May 1st. Finally, Stifel Nicolaus reduced their price objective on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Scorpio Tankers currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

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.