GAMMA Investing LLC Has $394,000 Position in Scorpio Tankers Inc. (NYSE:STNG)

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

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

Scorpio Tankers Stock Performance

STNG stock traded down $0.59 during trading hours on Monday, hitting $42.32. 1,495,127 shares of the stock were exchanged, compared to its average volume of 908,310. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $84.67. The company has a current ratio of 4.20, a quick ratio of 4.12 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.16 billion, a P/E ratio of 4.17 and a beta of -0.04. The company has a 50-day simple moving average of $39.75 and a two-hundred day simple moving average of $42.76.

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

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors 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 3.78%. The ex-dividend date was Friday, May 30th. Scorpio Tankers's dividend payout ratio is 15.76%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Evercore ISI dropped their target price 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. Jefferies Financial Group reissued a "buy" rating and issued a $65.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 1st. Finally, Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Scorpio Tankers currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

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.