Graham Capital Management L.P. Has $424,000 Position in Scorpio Tankers Inc. (NYSE:STNG)

Graham Capital Management L.P. lessened its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 43.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,542 shares of the shipping company's stock after selling 6,509 shares during the period. Graham Capital Management L.P.'s holdings in Scorpio Tankers were worth $424,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. increased its stake in shares of Scorpio Tankers by 882.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company's stock valued at $10,020,000 after buying an additional 181,135 shares during the period. Norges Bank bought a new position in Scorpio Tankers in the fourth quarter valued at about $30,374,000. Barclays PLC increased its position in Scorpio Tankers by 873.6% in the third quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock worth $13,418,000 after purchasing an additional 168,866 shares during the period. Raymond James Financial Inc. bought a new stake in Scorpio Tankers during the 4th quarter worth about $684,000. Finally, Savant Capital LLC acquired a new position in Scorpio Tankers during the 4th quarter valued at about $346,000. Institutional investors own 54.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Evercore ISI reduced their target price on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research note 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. Stifel Nicolaus reduced their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $65.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.50.

Scorpio Tankers Trading Down 3.3%

Shares of Scorpio Tankers stock traded down $1.35 during trading on Thursday, hitting $39.57. 106,697 shares of the company were exchanged, compared to its average volume of 1,003,706. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The firm has a market capitalization of $2.02 billion, a P/E ratio of 3.04 and a beta of -0.12. The firm's fifty day moving average price is $37.92 and its 200 day moving average price is $44.83. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $204.20 million during the quarter, compared to analysts' expectations of $205.89 million. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The business's revenue for the quarter was down 45.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.97 earnings per share. As a group, sell-side analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Friday, May 30th. Scorpio Tankers's dividend 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.