Interval Partners LP Purchases Shares of 13,225 Scorpio Tankers Inc. (NYSE:STNG)

Interval Partners LP bought a new position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 13,225 shares of the shipping company's stock, valued at approximately $657,000.

Several other institutional investors and hedge funds have also bought and sold shares of STNG. GAMMA Investing LLC lifted its position in Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after buying an additional 402 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock worth $30,000 after acquiring an additional 263 shares during the period. Covestor Ltd increased its holdings 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 during the period. PNC Financial Services Group Inc. lifted its stake in shares of Scorpio Tankers by 40.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after purchasing an additional 266 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Scorpio Tankers by 850.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock worth $49,000 after buying an additional 876 shares during the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STNG has been the topic of a number of research analyst reports. Jefferies Financial Group restated a "buy" rating and set a $65.00 price objective on shares of Scorpio Tankers in a report on Thursday, May 1st. Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Evercore ISI cut their price target on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Stifel Nicolaus cut their target price on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Three 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 data from MarketBeat, Scorpio Tankers presently has an average rating of "Moderate Buy" and an average price target of $60.50.

Scorpio Tankers Stock Performance

Shares of NYSE STNG traded up $0.36 during midday trading on Friday, reaching $42.05. 536,881 shares of the company were exchanged, compared to its average volume of 899,143. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $84.67. The stock has a fifty day simple moving average of $37.69 and a 200 day simple moving average of $45.29. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.15 billion, a P/E ratio of 3.22 and a beta of -0.12.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its 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 company had revenue of $204.20 million during the quarter, compared to analysts' expectations of $205.89 million. During the same period last year, the company posted $3.97 earnings per share. The firm's quarterly revenue was down 45.3% compared to the same quarter last year. On average, research analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 3.80%. Scorpio Tankers's payout ratio is currently 15.76%.

Scorpio Tankers Company 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.