J. Goldman & Co LP bought a new position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 197,825 shares of the shipping company's stock, valued at approximately $9,830,000. J. Goldman & Co LP owned 0.39% of Scorpio Tankers as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock valued at $30,000 after buying an additional 402 shares during the period. Lindbrook Capital LLC boosted its holdings in Scorpio Tankers by 75.8% in 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 increased its holdings in shares of Scorpio Tankers by 1,375.0% in the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company's stock worth $41,000 after purchasing an additional 770 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after buying an additional 266 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Scorpio Tankers by 850.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock valued at $49,000 after buying an additional 876 shares during the period. Institutional investors own 54.64% of the company's stock.
Scorpio Tankers Price Performance
Shares of Scorpio Tankers stock opened at $41.14 on Friday. The firm has a market capitalization of $2.10 billion, a PE ratio of 3.15 and a beta of -0.12. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $84.67. The business's 50-day moving average price is $37.48 and its 200-day moving average price is $45.72.
Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.32. The business had revenue of $204.20 million for 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 quarterly revenue was down 45.3% on a year-over-year basis. During the same period last year, the business earned $3.97 earnings per share. Sell-side analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS 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. 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 yield of 3.89%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers's payout ratio is presently 15.76%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on STNG. Evercore ISI decreased their target price on 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 raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Stifel Nicolaus lowered their target price 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 reissued a "buy" rating and issued a $65.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.
Check Out Our Latest Stock Report on STNG
Scorpio Tankers Profile
(
Free Report)
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.
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