Tidal Investments LLC Has $1.35 Million Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Tidal Investments LLC decreased its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 50.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,117 shares of the shipping company's stock after selling 27,699 shares during the period. Tidal Investments LLC owned 0.05% of Scorpio Tankers worth $1,347,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its position in shares of 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 period. Covestor Ltd boosted its stake in Scorpio Tankers by 1,375.0% during the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company's stock valued at $41,000 after buying an additional 770 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Scorpio Tankers by 40.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock valued at $46,000 after buying an additional 266 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Scorpio Tankers by 850.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock worth $49,000 after acquiring an additional 876 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Scorpio Tankers in the fourth quarter worth about $99,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STNG. Evercore ISI reduced 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. Stifel Nicolaus cut their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Jefferies Financial Group restated a "buy" rating and set a $65.00 target price on shares of Scorpio Tankers in a report on Thursday, May 1st. Finally, Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Scorpio Tankers has a consensus rating of "Moderate Buy" and an average price target of $60.50.

Scorpio Tankers Trading Down 0.3%

NYSE STNG traded down $0.13 on Friday, hitting $39.58. 104,271 shares of the company were exchanged, compared to its average volume of 894,878. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. Scorpio Tankers Inc. has a twelve month low of $30.63 and a twelve month high of $84.67. The firm has a market capitalization of $2.02 billion, a P/E ratio of 3.04 and a beta of -0.12. The company's 50 day moving average price is $37.83 and its 200-day moving average price is $44.16.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.32. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The business had revenue of $204.20 million for the quarter, compared to analyst estimates of $205.89 million. During the same quarter in the previous year, the business earned $3.97 earnings per share. The firm's revenue was down 45.3% compared to the same quarter last year. Analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.04%. Scorpio Tankers's payout ratio is currently 15.76%.

Scorpio Tankers 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.