Petrus Trust Company LTA Acquires 14,615 Shares of Scorpio Tankers Inc. $STNG

Key Points

• Petrus Trust Company LTA increased its stake in Scorpio Tankers by 310.1% during Q1, acquiring an additional 14,615 shares, bringing its total holdings to 19,328 shares worth $726,000.
• Jefferies Financial Group issued a "buy" rating for Scorpio Tankers with a price target of $65.00, reflecting a positive outlook from analysts, with a consensus rating of "Moderate Buy."
• Scorpio Tankers reported $1.41 EPS for the last quarter, exceeding estimates, but showed a 39.5% decline in revenue year-over-year to $222.76 million.

Petrus Trust Company LTA boosted its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 310.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,328 shares of the shipping company's stock after purchasing an additional 14,615 shares during the quarter. Petrus Trust Company LTA's holdings in Scorpio Tankers were worth $726,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of STNG. Pinnacle Holdings LLC purchased a new stake in Scorpio Tankers in the first quarter worth about $26,000. Signaturefd LLC lifted its position in Scorpio Tankers by 95.6% during the first quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock valued at $29,000 after purchasing an additional 372 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Scorpio Tankers during the first quarter valued at approximately $147,000. Rossby Financial LCC bought a new position in Scorpio Tankers during the first quarter valued at approximately $165,000. Finally, CWM LLC lifted 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 purchasing an additional 3,190 shares during the period. Hedge funds and other institutional investors own 54.64% of the company's stock.

Analyst Upgrades and Downgrades

STNG has been the topic of a number of research analyst reports. Bank of America upgraded shares of Scorpio Tankers from a "neutral" rating to a "buy" rating and increased their price objective for the company from $49.00 to $60.00 in a research report on Monday. Jefferies Financial Group increased their price target on shares of Scorpio Tankers from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Scorpio Tankers currently has a consensus rating of "Buy" and an average target price of $59.00.

Scorpio Tankers Price Performance

Shares of NYSE STNG traded down $1.58 during midday trading on Tuesday, reaching $57.11. The stock had a trading volume of 341,811 shares, compared to its average volume of 1,055,636. The stock has a 50-day moving average of $46.27 and a 200-day moving average of $41.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.83 and a current ratio of 4.95. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 7.78 and a beta of 0.03. Scorpio Tankers Inc. has a 12-month low of $30.63 and a 12-month high of $74.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $219.26 million. Scorpio Tankers had a net margin of 39.18% and a return on equity of 8.08%. The company's revenue for the quarter was down 39.5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.60 earnings per share. As a group, research analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Wednesday, August 13th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, August 13th. Scorpio Tankers's dividend payout ratio (DPR) is presently 21.80%.

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.