Tejara Capital Ltd Has $3.05 Million Holdings in Scorpio Tankers Inc. $STNG

Key Points

• Tejara Capital Ltd increased its stake in Scorpio Tankers Inc. by 233.8%, now owning 81,103 shares worth approximately $3.05 million, making it the firm's 24th largest holding.
• In the most recent quarter, Scorpio Tankers reported an EPS of $1.41, exceeding estimates, while revenue decreased 39.5% year-over-year to $222.76 million.
• The company declared a quarterly dividend of $0.40 per share, which equates to an annual yield of 3.6%, reflecting a dividend payout ratio of 21.80%.

Tejara Capital Ltd lifted its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 233.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,103 shares of the shipping company's stock after buying an additional 56,803 shares during the period. Scorpio Tankers comprises about 1.2% of Tejara Capital Ltd's portfolio, making the stock its 24th biggest holding. Tejara Capital Ltd owned about 0.16% of Scorpio Tankers worth $3,048,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Signaturefd LLC raised its stake in Scorpio Tankers by 95.6% during the first quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock worth $29,000 after acquiring an additional 372 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Scorpio Tankers during the first quarter worth about $147,000. Sherbrooke Park Advisers LLC increased its position in Scorpio Tankers by 28.3% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 4,035 shares of the shipping company's stock worth $200,000 after purchasing an additional 889 shares in the last quarter. Rossby Financial LCC acquired a new position in Scorpio Tankers during the 1st quarter worth approximately $165,000. Finally, Tower Research Capital LLC TRC increased its position in Scorpio Tankers by 1,652.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,626 shares of the shipping company's stock worth $230,000 after purchasing an additional 4,362 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Evercore ISI lowered their price objective on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Fearnley Fonds upgraded shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $65.00 target price on shares of Scorpio Tankers in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Scorpio Tankers currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

Scorpio Tankers Trading Up 1.3%

NYSE STNG traded up $0.6090 on Wednesday, reaching $46.2090. The company had a trading volume of 649,977 shares, compared to its average volume of 1,087,131. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 6.30 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 business has a 50 day moving average of $43.98 and a two-hundred day moving average of $41.24. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.95 and a quick ratio of 4.83.

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 for the quarter, beating analysts' consensus estimates of $1.03 by $0.38. The business had revenue of $222.76 million during 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%.Scorpio Tankers's quarterly revenue was down 39.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.60 earnings per share. Analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Wednesday, August 13th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $1.60 annualized dividend and a dividend yield of 3.5%. Scorpio Tankers's dividend payout ratio 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.