Tejara Capital Ltd Grows Stake 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 raised its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 233.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,103 shares of the shipping company's stock after purchasing an additional 56,803 shares during the quarter. Scorpio Tankers accounts for about 1.2% of Tejara Capital Ltd's holdings, 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 reporting period.

Several other large investors have also recently bought and sold shares of STNG. Boston Partners grew its stake in Scorpio Tankers by 13.3% during the first quarter. Boston Partners now owns 53,177 shares of the shipping company's stock worth $1,998,000 after purchasing an additional 6,229 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Scorpio Tankers in the first quarter worth approximately $147,000. Russell Investments Group Ltd. boosted its holdings in Scorpio Tankers by 34.1% in the first quarter. Russell Investments Group Ltd. now owns 134,429 shares of the shipping company's stock worth $5,053,000 after acquiring an additional 34,215 shares in the last quarter. Nuveen LLC bought a new position in Scorpio Tankers in the first quarter worth approximately $4,666,000. Finally, Virtu Financial LLC bought a new position in Scorpio Tankers in the first quarter worth approximately $746,000. 54.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on STNG shares. Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Evercore ISI dropped their target price 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 restated a "buy" rating and issued a $65.00 target price on shares of Scorpio Tankers in a report on Wednesday, July 30th. Two 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's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.50.

Scorpio Tankers Trading Up 0.1%

STNG traded up $0.05 during midday trading on Friday, reaching $44.97. 925,851 shares of the company's stock traded hands, compared to its average volume of 1,072,372. The firm has a fifty day moving average of $43.62 and a two-hundred day moving average of $41.18. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 6.13 and a beta of -0.03. 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 Inc. has a 52 week low of $30.63 and a 52 week high of $74.94.

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. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%. The company had revenue of $222.76 million during the quarter, compared to analyst estimates of $219.26 million. During the same quarter last year, the company earned $3.60 EPS. The firm's revenue for the quarter was down 39.5% on a year-over-year basis. On average, equities analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, August 13th. Scorpio Tankers's dividend payout ratio (DPR) is 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.