Dimensional Fund Advisors LP grew its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,760,429 shares of the shipping company's stock after purchasing an additional 47,046 shares during the period. Dimensional Fund Advisors LP owned about 6.78% of Scorpio Tankers worth $228,634,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. Neo Ivy Capital Management purchased a new position in Scorpio Tankers in the third quarter valued at $27,000. Headinvest LLC acquired a new stake in Scorpio Tankers in the 3rd quarter valued at about $51,000. Sunbelt Securities Inc. purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at about $54,000. U S Global Investors Inc. grew its position in shares of Scorpio Tankers by 14.5% during the fourth quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company's stock worth $106,000 after buying an additional 220 shares in the last quarter. Finally, Bfsg LLC purchased a new stake in shares of Scorpio Tankers during the fourth quarter worth approximately $114,000. Institutional investors and hedge funds own 54.64% of the company's stock.
Analyst Ratings Changes
Several research analysts have commented on STNG shares. JPMorgan Chase & Co. boosted their price target on shares of Scorpio Tankers from $85.00 to $86.00 and gave the stock an "overweight" rating in a report on Thursday, February 1st. Evercore ISI raised their price target on Scorpio Tankers from $89.00 to $91.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. Jefferies Financial Group reaffirmed a "buy" rating and set a $90.00 price objective on shares of Scorpio Tankers in a research report on Thursday, May 9th. StockNews.com upgraded Scorpio Tankers from a "hold" rating to a "buy" rating in a report on Friday, May 10th. Finally, Bank of America boosted their target price on Scorpio Tankers from $76.00 to $82.00 and gave the stock a "neutral" rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $80.17.
Read Our Latest Research Report on STNG
Scorpio Tankers Stock Performance
Shares of STNG traded up $0.13 during midday trading on Wednesday, reaching $79.70. 887,567 shares of the stock were exchanged, compared to its average volume of 1,086,322. Scorpio Tankers Inc. has a twelve month low of $40.34 and a twelve month high of $80.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.60 and a quick ratio of 1.12. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 7.31, a PEG ratio of 1.23 and a beta of 0.18. The business's 50-day moving average price is $71.73 and its 200 day moving average price is $65.44.
Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The shipping company reported $3.97 EPS for the quarter, topping the consensus estimate of $3.72 by $0.25. Scorpio Tankers had a return on equity of 22.84% and a net margin of 42.12%. The company had revenue of $389.76 million for the quarter, compared to analyst estimates of $381.46 million. On average, sell-side analysts expect that Scorpio Tankers Inc. will post 11.41 EPS for the current fiscal year.
Scorpio Tankers Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. Scorpio Tankers's payout ratio is 14.84%.
About Scorpio Tankers
(
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.
Read More
Before you consider Scorpio Tankers, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Scorpio Tankers wasn't on the list.
While Scorpio Tankers currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
