Scorpio Tankers Inc. (NYSE:STNG) Shares Bought by Gallacher Capital Management LLC

Gallacher Capital Management LLC lifted its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 55.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,180 shares of the shipping company's stock after purchasing an additional 5,771 shares during the quarter. Gallacher Capital Management LLC's holdings in Scorpio Tankers were worth $608,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of STNG. Raymond James Financial Inc. acquired a new stake in Scorpio Tankers during the 4th quarter worth approximately $684,000. PNC Financial Services Group Inc. lifted its holdings in shares of Scorpio Tankers by 40.1% during 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 during the period. Cibc World Markets Corp acquired a new stake in shares of Scorpio Tankers during the fourth quarter worth $207,000. American Century Companies Inc. lifted its holdings in shares of Scorpio Tankers by 10.9% during the fourth quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company's stock worth $77,437,000 after purchasing an additional 153,267 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Scorpio Tankers in the 4th quarter worth $934,000. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Price Performance

STNG stock traded down $0.21 during midday trading on Thursday, hitting $44.55. 310,270 shares of the stock were exchanged, compared to its average volume of 1,051,650. The stock's 50-day moving average price is $41.81 and its 200-day moving average price is $41.93. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 4.39 and a beta of -0.04. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $77.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.12 and a current ratio of 4.20.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 earnings per share (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 the consensus estimate of $205.89 million. Scorpio Tankers had a return on equity of 12.30% and a net margin of 48.08%. The business's revenue was down 45.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.97 EPS. Research analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Friday, May 30th. Scorpio Tankers's payout ratio is currently 15.76%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Jefferies Financial Group restated a "buy" rating and issued a $65.00 target price on shares of Scorpio Tankers in a research note on Thursday, May 1st. Evercore ISI reduced their price objective on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.