Magnetar Financial LLC Takes $211,000 Position in Scorpio Tankers Inc. $STNG

Key Points

• Magnetar Financial LLC has acquired a new stake in Scorpio Tankers Inc., purchasing 5,613 shares valued at approximately $211,000 in the 1st quarter.
• Scorpio Tankers recently reported earnings of $1.41 EPS, exceeding analyst expectations, while also announcing a quarterly dividend of $0.40 per share.
• Institutional investors and hedge funds now own 54.64% of Scorpio Tankers stock, highlighting significant interest from large financial entities.

Magnetar Financial LLC purchased a new stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,613 shares of the shipping company's stock, valued at approximately $211,000.

Several other large investors have also modified their holdings of STNG. Pinnacle Holdings LLC bought a new stake in shares of Scorpio Tankers in the 1st quarter valued at about $26,000. Signaturefd LLC raised its stake in shares of Scorpio Tankers by 95.6% during the 1st quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock worth $29,000 after acquiring an additional 372 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Scorpio Tankers during the 1st quarter worth approximately $147,000. Rossby Financial LCC bought a new position in shares of Scorpio Tankers during the 1st quarter worth approximately $165,000. Finally, CWM LLC raised its stake in shares of Scorpio Tankers by 180.3% during the 1st quarter. CWM LLC now owns 4,959 shares of the shipping company's stock worth $186,000 after acquiring an additional 3,190 shares in the last quarter. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Stock Up 3.0%

Shares of NYSE STNG traded up $1.54 during trading hours on Friday, hitting $52.98. 866,927 shares of the stock were exchanged, compared to its average volume of 895,101. The company has a quick ratio of 4.83, a current ratio of 4.95 and a debt-to-equity ratio of 0.28. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $74.67. The company has a market cap of $2.70 billion, a PE ratio of 7.22 and a beta of 0.04. The firm has a fifty day moving average price of $45.88 and a 200-day moving average price of $41.49.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.38. Scorpio Tankers had a net margin of 39.18% and a return on equity of 8.08%. The business had revenue of $222.76 million for the quarter, compared to analyst estimates of $219.26 million. During the same quarter in the prior year, the business posted $3.60 EPS. Scorpio Tankers's revenue for the quarter was down 39.5% compared to the same quarter last year. On average, sell-side analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated a "buy" rating and set a $65.00 price objective on shares of Scorpio Tankers in a research note on Wednesday, July 30th. One equities 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 company's stock. Based on data from MarketBeat.com, Scorpio Tankers has an average rating of "Moderate Buy" and an average price target of $60.50.

About Scorpio Tankers

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.