19,863 Shares in Scorpio Tankers Inc. (NYSE:STNG) Bought by Virtu Financial LLC

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

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STNG. Legal & General Group Plc increased its stake in Scorpio Tankers by 21.4% during the 4th quarter. Legal & General Group Plc now owns 8,978 shares of the shipping company's stock worth $446,000 after buying an additional 1,583 shares during the period. Raymond James Financial Inc. acquired a new stake in Scorpio Tankers in the fourth quarter valued at $684,000. Covestor Ltd raised its holdings in 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 acquiring an additional 770 shares in the last quarter. Townsquare Capital LLC acquired a new stake in Scorpio Tankers in the fourth quarter valued at $527,000. Finally, Ceredex Value Advisors LLC raised its holdings in Scorpio Tankers by 16.4% in the fourth quarter. Ceredex Value Advisors LLC now owns 122,100 shares of the shipping company's stock valued at $6,067,000 after acquiring an additional 17,200 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Scorpio Tankers Trading Up 1.9%

Scorpio Tankers stock opened at $44.89 on Wednesday. The firm's 50-day moving average is $43.31 and its 200-day moving average is $41.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.83 and a current ratio of 4.95. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $75.26. The company has a market cap of $2.29 billion, a P/E ratio of 6.12 and a beta of -0.03.

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

Scorpio Tankers Announces Dividend

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

Analysts Set New Price Targets

STNG has been the topic of several recent analyst reports. Fearnley Fonds raised shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $65.00 price target on shares of Scorpio Tankers in a report on Wednesday, July 30th. Finally, Evercore ISI reduced their price target 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. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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