Dynamic Technology Lab Private Ltd Raises Stake in Scorpio Tankers Inc. $STNG

Key Points

• Dynamic Technology Lab Private Ltd has increased its stake in Scorpio Tankers Inc. by 786.2%, acquiring a total of 48,990 shares worth approximately $1.84 million.
• Scorpio Tankers reported $1.41 earnings per share (EPS) for the last quarter, exceeding analyst expectations and achieving a net margin of 39.18%.
• The company declared a quarterly dividend of $0.40, resulting in an annualized dividend yield of 3.0% and a payout ratio of 21.80%.

Dynamic Technology Lab Private Ltd boosted its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 786.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,990 shares of the shipping company's stock after acquiring an additional 43,462 shares during the period. Dynamic Technology Lab Private Ltd owned about 0.10% of Scorpio Tankers worth $1,841,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of STNG. Pinnacle Holdings LLC purchased a new stake in shares of Scorpio Tankers during the 1st quarter worth $26,000. Signaturefd LLC raised its stake in Scorpio Tankers by 95.6% in 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 in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Scorpio Tankers during the 1st quarter worth about $147,000. Rossby Financial LCC acquired a new position in shares of Scorpio Tankers during the 1st quarter worth about $165,000. Finally, CWM LLC increased its holdings in shares of Scorpio Tankers by 180.3% in the 1st quarter. CWM LLC now owns 4,959 shares of the shipping company's stock valued at $186,000 after acquiring an additional 3,190 shares during the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated a "buy" rating and set a $65.00 target price on shares of Scorpio Tankers in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

Scorpio Tankers Stock Up 3.0%

STNG opened at $52.98 on Friday. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $74.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.83 and a current ratio of 4.95. The stock has a market capitalization of $2.70 billion, a P/E ratio of 7.22 and a beta of 0.04. The business's 50-day simple moving average is $45.88 and its 200-day simple moving average is $41.49.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released 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. The firm had revenue of $222.76 million for the quarter, compared to the consensus estimate of $219.26 million. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%.The firm's quarterly revenue was down 39.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.60 EPS. Analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Wednesday, August 13th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, August 13th. Scorpio Tankers's payout ratio is presently 21.80%.

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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