SG Americas Securities LLC Invests $1.01 Million 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 disclosure with the Securities and Exchange Commission. The fund bought 26,762 shares of the shipping company's stock, valued at approximately $1,006,000. SG Americas Securities LLC owned 0.05% of Scorpio Tankers at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Scorpio Tankers by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company's stock worth $174,512,000 after acquiring an additional 10,854 shares during the period. FMR LLC raised its holdings in Scorpio Tankers by 266.2% during the fourth quarter. FMR LLC now owns 2,613,611 shares of the shipping company's stock worth $129,870,000 after purchasing an additional 1,899,981 shares in the last quarter. Vanguard Group Inc. lifted its position in Scorpio Tankers by 22.3% in the fourth quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company's stock valued at $124,786,000 after purchasing an additional 458,120 shares during the period. Cooper Creek Partners Management LLC lifted its position in Scorpio Tankers by 380.0% in the fourth quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company's stock valued at $109,098,000 after purchasing an additional 1,738,190 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Scorpio Tankers by 10.9% in the 4th quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company's stock valued at $77,437,000 after purchasing an additional 153,267 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Scorpio Tankers Price Performance

Scorpio Tankers stock traded up $0.09 during mid-day trading on Wednesday, reaching $44.32. The company had a trading volume of 1,392,463 shares, compared to its average volume of 902,657. The stock's 50-day simple moving average is $39.03 and its 200-day simple moving average is $43.00. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year 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 company has a market capitalization of $2.26 billion, a P/E ratio of 4.37 and a beta of -0.04.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $204.20 million during the quarter, compared to the consensus estimate of $205.89 million. Scorpio Tankers had a return on equity of 12.30% and a net margin of 48.08%. Scorpio Tankers's quarterly revenue was down 45.3% on a year-over-year basis. During the same period last year, the business posted $3.97 EPS. On average, equities analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, May 30th. Scorpio Tankers's payout ratio is currently 15.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on STNG shares. Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Evercore ISI dropped their price objective on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $65.00 price objective on shares of Scorpio Tankers in a research report on Thursday, May 1st. Three investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.