10,600 Shares in Scorpio Tankers Inc. $STNG Bought by Strs Ohio

Key Points

• Strs Ohio has made a new investment in Scorpio Tankers, acquiring 10,600 shares valued at approximately $398,000.
• Scorpio Tankers reported earnings of $1.41 per share, exceeding analysts' expectations and reflecting a 39.5% year-over-year revenue decline.
• The company recently announced a quarterly dividend of $0.40 per share, yielding 2.8%, with a payout ratio of 21.80%.

Strs Ohio purchased a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,600 shares of the shipping company's stock, valued at approximately $398,000.

Other large investors have also added to or reduced their stakes in the company. Pinnacle Holdings LLC purchased a new stake in Scorpio Tankers during the first quarter valued at about $26,000. Signaturefd LLC grew its stake in shares of Scorpio Tankers by 95.6% during the first quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock valued at $29,000 after buying an additional 372 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Scorpio Tankers during the first quarter valued at about $147,000. Rossby Financial LCC bought a new position in shares of Scorpio Tankers during the first quarter valued at about $165,000. Finally, CWM LLC grew its stake in shares of Scorpio Tankers by 180.3% during the first quarter. CWM LLC now owns 4,959 shares of the shipping company's stock valued at $186,000 after buying an additional 3,190 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Scorpio Tankers Stock Down 1.6%

NYSE STNG opened at $57.86 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.95 and a quick ratio of 4.83. The stock has a market capitalization of $2.95 billion, a PE ratio of 7.88 and a beta of 0.03. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $74.67. The business's 50-day moving average is $49.44 and its 200 day moving average is $42.93.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.38. The company had revenue of $222.76 million for the quarter, compared to analysts' expectations of $219.26 million. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%.Scorpio Tankers's quarterly revenue was down 39.5% on a year-over-year basis. During the same period last year, the firm earned $3.60 earnings per share. Sell-side analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Wednesday, August 13th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $1.60 annualized dividend and a dividend yield of 2.8%. Scorpio Tankers's dividend payout ratio (DPR) is presently 21.80%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on STNG shares. Bank of America raised Scorpio Tankers from a "neutral" rating to a "buy" rating and raised their price objective for the company from $49.00 to $60.00 in a research note on Monday, September 8th. Jefferies Financial Group raised their price objective on Scorpio Tankers from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Finally, Zacks Research raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $59.00.

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.

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