SG Americas Securities LLC Purchases New Shares in Scorpio Tankers Inc. (NYSE:STNG)

SG Americas Securities LLC bought a new stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 26,762 shares of the shipping company's stock, valued at approximately $1,006,000. SG Americas Securities LLC owned about 0.05% of Scorpio Tankers 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. Lindbrook Capital LLC lifted its holdings 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 purchasing an additional 263 shares during the last quarter. Covestor Ltd increased its position in Scorpio Tankers by 1,375.0% in 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. increased its position in Scorpio Tankers by 40.1% in 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 increased its position in Scorpio Tankers by 850.5% in 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, Kohmann Bosshard Financial Services LLC acquired a new stake in Scorpio Tankers in the 4th quarter valued at about $99,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Stock Down 3.3%

Shares of Scorpio Tankers stock traded down $1.45 on Friday, hitting $42.85. The company had a trading volume of 1,717,121 shares, compared to its average volume of 905,947. The firm has a market capitalization of $2.19 billion, a P/E ratio of 4.22 and a beta of -0.04. Scorpio Tankers Inc. has a twelve month low of $30.63 and a twelve month high of $84.67. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.20 and a quick ratio of 4.12. The stock has a 50-day moving average of $39.59 and a 200-day moving average of $42.86.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.32. The company 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 quarter in the prior year, the company earned $3.97 earnings per share. Research analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Friday, May 30th. Scorpio Tankers's dividend payout ratio is presently 15.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on STNG shares. Jefferies Financial Group restated a "buy" rating and issued a $65.00 price objective on shares of Scorpio Tankers in a research report on Thursday, May 1st. Evercore ISI dropped their price target on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Fearnley Fonds raised shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $60.50.

Scorpio Tankers Company 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.