Virtu Financial LLC Takes Position in Scorpio Tankers Inc. (NYSE:STNG)

Key Points

• Virtu Financial LLC has purchased 19,863 shares of Scorpio Tankers Inc. valued at approximately $746,000, indicating a significant institutional interest in the company.
• Scorpio Tankers reported $1.41 earnings per share (EPS) for the last quarter, beating analysts' expectations, although revenue was down 39.5% year-over-year.
• The company declared a quarterly dividend of $0.40, representing an annualized yield of 3.6%.

Virtu Financial LLC purchased a new stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,863 shares of the shipping company's stock, valued at approximately $746,000.

Other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its stake in shares of Scorpio Tankers by 10.7% in the 1st quarter. Rhumbline Advisers now owns 84,174 shares of the shipping company's stock valued at $3,163,000 after purchasing an additional 8,170 shares during the period. Allspring Global Investments Holdings LLC grew its position in Scorpio Tankers by 24.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,114 shares of the shipping company's stock worth $576,000 after acquiring an additional 2,971 shares during the last quarter. Victory Capital Management Inc. grew its position in Scorpio Tankers by 78.0% during the 1st quarter. Victory Capital Management Inc. now owns 253,966 shares of the shipping company's stock worth $9,544,000 after acquiring an additional 111,270 shares during the last quarter. Principal Financial Group Inc. grew its position in Scorpio Tankers by 7.5% during the 1st quarter. Principal Financial Group Inc. now owns 48,771 shares of the shipping company's stock worth $1,833,000 after acquiring an additional 3,394 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Scorpio Tankers by 1,650.4% during the 1st quarter. GAMMA Investing LLC now owns 10,485 shares of the shipping company's stock worth $394,000 after acquiring an additional 9,886 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Scorpio Tankers Trading Up 0.1%

NYSE:STNG traded up $0.05 during trading hours on Friday, hitting $44.97. 925,851 shares of the stock were exchanged, compared to its average volume of 1,088,178. The company's 50 day moving average is $43.62 and its two-hundred day moving average is $41.23. Scorpio Tankers Inc. has a twelve month low of $30.63 and a twelve month high of $74.94. The company has a quick ratio of 4.83, a current ratio of 4.95 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.29 billion, a P/E ratio of 6.13 and a beta of -0.03.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings data 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. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%. The firm had revenue of $222.76 million for the quarter, compared to the consensus estimate of $219.26 million. During the same quarter in the prior year, the business earned $3.60 EPS. The business's revenue for the quarter was down 39.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $1.60 annualized dividend and a yield of 3.6%. Scorpio Tankers's dividend payout ratio is currently 21.80%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Evercore ISI decreased their price target on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group restated a "buy" rating and set a $65.00 price target on shares of Scorpio Tankers in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $60.50.

Scorpio Tankers 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.