GAMMA Investing LLC Grows Stock Holdings in Scorpio Tankers Inc. (NYSE:STNG)

GAMMA Investing LLC raised its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 1,650.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,485 shares of the shipping company's stock after acquiring an additional 9,886 shares during the quarter. GAMMA Investing LLC's holdings in Scorpio Tankers were worth $394,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of STNG. Rhumbline Advisers increased its position in shares of Scorpio Tankers by 0.7% in the fourth quarter. Rhumbline Advisers now owns 76,004 shares of the shipping company's stock valued at $3,777,000 after acquiring an additional 559 shares during the period. Principal Financial Group Inc. increased its position in shares of Scorpio Tankers by 9.6% in the fourth quarter. Principal Financial Group Inc. now owns 45,377 shares of the shipping company's stock valued at $2,255,000 after acquiring an additional 3,961 shares during the period. Ieq Capital LLC purchased a new position in shares of Scorpio Tankers in the fourth quarter valued at about $682,000. TCW Group Inc. boosted its stake in shares of Scorpio Tankers by 8.2% during the 4th quarter. TCW Group Inc. now owns 190,692 shares of the shipping company's stock valued at $9,475,000 after purchasing an additional 14,500 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in shares of Scorpio Tankers by 40.2% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 27,190 shares of the shipping company's stock valued at $1,351,000 after purchasing an additional 7,793 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on STNG. Fearnley Fonds raised shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Evercore ISI cut their target price on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $65.00 target price on shares of Scorpio Tankers in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $60.50.

Scorpio Tankers Trading Up 0.2%

NYSE:STNG opened at $44.32 on Friday. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $84.67. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.20 and a quick ratio of 4.12. The company's 50-day simple moving average is $39.45 and its 200 day simple moving average is $42.97. The firm has a market capitalization of $2.26 billion, a P/E ratio of 4.37 and a beta of -0.04.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.71 by $0.32. The business had revenue of $204.20 million for the quarter, compared to analyst estimates of $205.89 million. Scorpio Tankers had a net margin of 48.08% and a return on equity of 12.30%. Scorpio Tankers's quarterly revenue was down 45.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.97 earnings per share. As a group, analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.40 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 3.61%. Scorpio Tankers's dividend payout ratio is presently 15.76%.

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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