Hsbc Holdings PLC Boosts Stock Holdings in Scorpio Tankers Inc. $STNG

Key Points

• Hsbc Holdings PLC increased its stake in Scorpio Tankers Inc. by 161.4% in the first quarter, now holding approximately 0.09% of the company valued at $1.72 million.
• Scorpio Tankers reported an EPS of $1.41 for the last quarter, exceeding expectations of $1.03, although revenues decreased 39.5% compared to the same quarter last year.
• The company has declared a quarterly dividend of $0.40 per share, translating to an annualized dividend of $1.60 and a dividend yield of 3.2%.

Hsbc Holdings PLC increased its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 161.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,155 shares of the shipping company's stock after acquiring an additional 27,879 shares during the quarter. Hsbc Holdings PLC owned 0.09% of Scorpio Tankers worth $1,720,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of STNG. Raymond James Financial Inc. bought a new stake in shares of Scorpio Tankers in the 4th quarter valued at $684,000. Tower Research Capital LLC TRC increased its stake in shares of Scorpio Tankers by 1,652.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,626 shares of the shipping company's stock valued at $230,000 after acquiring an additional 4,362 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Scorpio Tankers by 83.0% in the 4th quarter. Stifel Financial Corp now owns 9,857 shares of the shipping company's stock valued at $490,000 after acquiring an additional 4,470 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Scorpio Tankers by 12.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 92,820 shares of the shipping company's stock valued at $4,614,000 after acquiring an additional 10,016 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new stake in shares of Scorpio Tankers in the 4th quarter valued at $457,000. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Stock Up 0.1%

STNG stock traded up $0.07 during midday trading on Tuesday, reaching $50.47. 968,601 shares of the company's stock traded hands, compared to its average volume of 1,048,679. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 6.88 and a beta of 0.03. The firm's fifty day moving average price is $45.00 and its 200-day moving average price is $41.25. 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 52 week low of $30.63 and a 52 week high of $74.67.

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

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, August 13th. Scorpio Tankers's payout ratio is currently 21.80%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Fearnley Fonds upgraded shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Jefferies Financial Group restated a "buy" rating and set a $65.00 price target 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 given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.50.

Scorpio Tankers 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.