Scorpio Tankers Inc. (NYSE:STNG) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 4,706.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 970,799 shares of the shipping company's stock after purchasing an additional 950,600 shares during the period. International Assets Investment Management LLC owned about 1.75% of Scorpio Tankers worth $59,025,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in STNG. Neo Ivy Capital Management bought a new position in Scorpio Tankers during the third quarter worth $27,000. CWM LLC increased its position in Scorpio Tankers by 1,037.0% during the third quarter. CWM LLC now owns 523 shares of the shipping company's stock worth $28,000 after acquiring an additional 477 shares during the period. Lazard Asset Management LLC increased its position in Scorpio Tankers by 1,985.7% during the second quarter. Lazard Asset Management LLC now owns 584 shares of the shipping company's stock worth $27,000 after acquiring an additional 556 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in Scorpio Tankers during the third quarter worth $52,000. Finally, Meeder Asset Management Inc. increased its holdings in Scorpio Tankers by 35.2% in the 1st quarter. Meeder Asset Management Inc. now owns 964 shares of the shipping company's stock valued at $54,000 after buying an additional 251 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of Scorpio Tankers from $89.00 to $91.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. upped their price objective on shares of Scorpio Tankers from $85.00 to $86.00 and gave the company an "overweight" rating in a research report on Thursday, February 1st. StockNews.com cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, February 23rd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $90.00 target price on shares of Scorpio Tankers in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Scorpio Tankers has a consensus rating of "Moderate Buy" and an average target price of $74.00.

Scorpio Tankers Trading Down 1.3 %

Shares of NYSE:STNG traded down $0.95 during mid-day trading on Monday, reaching $70.82. 928,969 shares of the company's stock were exchanged, compared to its average volume of 1,231,256. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 7.12 and a beta of 0.21. The business's fifty day moving average price is $69.24 and its 200-day moving average price is $62.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.13. Scorpio Tankers Inc. has a twelve month low of $40.34 and a twelve month high of $74.04.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.13. The firm had revenue of $336.30 million during the quarter, compared to the consensus estimate of $335.70 million. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The business's revenue was down 31.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.24 earnings per share. On average, research analysts predict that Scorpio Tankers Inc. will post 12.3 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 8th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Thursday, March 7th. This is a positive change from Scorpio Tankers's previous quarterly dividend of $0.35. Scorpio Tankers's dividend payout ratio is 16.10%.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 23, 2023, its fleet consisted of 113 owned, finance leased, or bareboat chartered-in tankers, including 39 LR2, 60 MR, and 14 Handymax with a weighted average age of approximately 7.2 years.