Moody Aldrich Partners LLC Has $1.52 Million Position in Scorpio Tankers Inc. (NYSE:STNG)

Moody Aldrich Partners LLC increased its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 32.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,502 shares of the shipping company's stock after purchasing an additional 9,902 shares during the quarter. Moody Aldrich Partners LLC owned approximately 0.08% of Scorpio Tankers worth $1,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of STNG. Lindbrook Capital LLC grew its stake in Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after acquiring an additional 263 shares in the last quarter. Covestor Ltd grew its stake in Scorpio Tankers by 1,375.0% during the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company's stock valued at $41,000 after acquiring an additional 770 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Scorpio Tankers by 40.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock valued at $46,000 after acquiring an additional 266 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Scorpio Tankers by 850.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock valued at $49,000 after acquiring an additional 876 shares in the last quarter. Finally, Rossby Financial LCC purchased a new position in Scorpio Tankers during the 1st quarter valued at about $165,000. Hedge funds and other institutional investors own 54.64% of the company's stock.

Scorpio Tankers Price Performance

NYSE:STNG traded up $0.76 during trading hours on Monday, reaching $43.21. The company had a trading volume of 1,058,032 shares, compared to its average volume of 941,288. The stock has a 50-day moving average of $40.81 and a two-hundred day moving average of $42.32. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $79.22. The firm has a market capitalization of $2.20 billion, a PE ratio of 4.26 and a beta of -0.04. The company has a quick ratio of 4.12, a current ratio of 4.20 and a debt-to-equity ratio of 0.30.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced 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 analysts' expectations 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 for the quarter was down 45.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.97 earnings per share. Analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.70%. The ex-dividend date was Friday, May 30th. Scorpio Tankers's dividend payout ratio is 15.76%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. 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. Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Evercore ISI cut their price target on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.