Y Intercept Hong Kong Ltd lifted its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 42.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,610 shares of the shipping company's stock after purchasing an additional 11,420 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.08% of Scorpio Tankers worth $1,451,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in Scorpio Tankers by 95.6% in the first quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock worth $29,000 after purchasing an additional 372 shares during the period. Covestor Ltd boosted its position in shares of 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 buying an additional 770 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after acquiring an additional 266 shares during the period. Rossby Financial LCC purchased a new stake in Scorpio Tankers during the 1st quarter valued at $165,000. Finally, CWM LLC increased its position in Scorpio Tankers by 180.3% during the first quarter. CWM LLC now owns 4,959 shares of the shipping company's stock valued at $186,000 after acquiring an additional 3,190 shares during the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.
Scorpio Tankers Stock Down 1.2%
Shares of STNG stock traded down $0.52 during trading hours on Friday, reaching $44.12. 617,295 shares of the company's stock were exchanged, compared to its average volume of 1,348,734. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $77.83. 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 stock has a market cap of $2.25 billion, a PE ratio of 4.35 and a beta of -0.04. The stock's fifty day moving average price is $41.91 and its two-hundred day moving average price is $41.77.
Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.71 by $0.32. The business had revenue of $204.20 million during the quarter, compared to analysts' expectations of $205.89 million. Scorpio Tankers had a net margin of 48.08% and a return on equity of 12.30%. The business's quarterly revenue was down 45.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.97 EPS. Research analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.
Scorpio Tankers Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Friday, May 30th. Scorpio Tankers's dividend payout ratio (DPR) is 15.76%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a "buy" rating and set a $65.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 1st. Evercore ISI lowered their target price on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.50.
View Our Latest Analysis on STNG
Scorpio Tankers Profile
(
Free Report)
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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