Sprott Inc. Acquires New Shares in Scorpio Tankers Inc. $STNG

Key Points

• Sprott Inc. has acquired 20,040 shares of Scorpio Tankers Inc. valued at approximately $753,000 during the first quarter, indicating significant interest from institutional investors in the shipping sector.
• Scorpio Tankers reported earnings of $1.41 per share for the last quarter, exceeding analysts' expectations of $1.03, despite a 39.5% decline in revenue compared to the same quarter last year.
• The firm has announced a quarterly dividend of $0.40 per share, which translates to an annualized dividend yield of 3.3%, highlighting a continued commitment to returning value to shareholders.

Sprott Inc. bought a new position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,040 shares of the shipping company's stock, valued at approximately $753,000.

Other large investors have also recently bought and sold shares of the company. Pinnacle Holdings LLC acquired a new position in Scorpio Tankers during the first quarter valued at approximately $26,000. Signaturefd LLC boosted 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 last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Scorpio Tankers during the first quarter valued at approximately $147,000. Sherbrooke Park Advisers LLC boosted its position in Scorpio Tankers by 28.3% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 4,035 shares of the shipping company's stock valued at $200,000 after purchasing an additional 889 shares during the last quarter. Finally, Rossby Financial LCC acquired a new position in Scorpio Tankers during the first quarter valued at approximately $165,000. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Price Performance

Shares of STNG stock traded up $1.11 during trading hours on Wednesday, reaching $50.14. The company's stock had a trading volume of 490,643 shares, compared to its average volume of 1,046,771. The firm's 50 day simple moving average is $44.47 and its 200-day simple moving average is $41.19. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 6.84 and a beta of -0.03. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $74.67. 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 (NYSE:STNG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, beating 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 return on equity of 8.08% and a net margin of 39.18%.The company's revenue was down 39.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.60 EPS. Sell-side analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Wednesday, August 13th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $1.60 annualized dividend and a dividend yield of 3.2%. Scorpio Tankers's dividend payout ratio (DPR) is 21.80%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Jefferies Financial Group reiterated a "buy" rating and set a $65.00 target price on shares of Scorpio Tankers in a research note on Wednesday, July 30th. Finally, Evercore ISI lowered their target price on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Scorpio Tankers 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.