LM Asset IM Inc. Purchases New Shares in Scorpio Tankers Inc. (NYSE:STNG)

LM Asset IM Inc. bought a new position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 40,000 shares of the shipping company's stock, valued at approximately $1,988,000. Scorpio Tankers makes up 1.8% of LM Asset IM Inc.'s holdings, making the stock its 7th biggest position. LM Asset IM Inc. owned about 0.08% of Scorpio Tankers as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Lindbrook Capital LLC grew its position in Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock worth $30,000 after acquiring an additional 263 shares in the last quarter. Covestor Ltd raised its position in Scorpio Tankers by 1,375.0% during the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company's stock valued at $41,000 after purchasing an additional 770 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in 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 last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Scorpio Tankers by 850.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock worth $49,000 after purchasing an additional 876 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Scorpio Tankers during the 4th quarter valued at about $99,000. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Trading Up 2.5%

Scorpio Tankers stock traded up $1.00 during trading hours on Tuesday, reaching $41.05. The company had a trading volume of 674,471 shares, compared to its average volume of 897,090. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. Scorpio Tankers Inc. has a 12-month low of $30.63 and a 12-month high of $84.67. The company has a 50-day moving average price of $37.84 and a 200 day moving average price of $44.29. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 3.15 and a beta of -0.12.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results 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 company had revenue of $204.20 million for the quarter, compared to the consensus estimate of $205.89 million. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The firm's revenue for the quarter was down 45.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.97 earnings per share. Equities analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers's payout ratio is 15.76%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Jefferies Financial Group restated a "buy" rating and issued a $65.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 1st. Evercore ISI decreased 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 note on Friday, May 2nd. Fearnley Fonds raised shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus reduced their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Scorpio Tankers presently has an average rating of "Moderate Buy" and an average 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.