Jump Financial LLC Invests $639,000 in Scorpio Tankers Inc. (NYSE:STNG)

Jump Financial LLC bought a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 10,517 shares of the shipping company's stock, valued at approximately $639,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Neo Ivy Capital Management bought a new position in Scorpio Tankers during the third quarter worth $27,000. Headinvest LLC bought a new position in Scorpio Tankers during the third quarter worth $51,000. Sunbelt Securities Inc. acquired a new stake in Scorpio Tankers in the third quarter worth $54,000. U S Global Investors Inc. increased its position in Scorpio Tankers by 14.5% in 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 during the period. Finally, Bfsg LLC acquired a new stake in Scorpio Tankers in the fourth quarter worth $114,000. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on STNG shares. StockNews.com raised Scorpio Tankers from a "hold" rating to a "buy" rating in a research report on Friday, May 10th. Bank of America increased their target price on Scorpio Tankers from $76.00 to $82.00 and gave the stock a "neutral" rating in a research report on Friday, May 10th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $90.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 9th. JPMorgan Chase & Co. increased their target price on Scorpio Tankers from $85.00 to $86.00 and gave the stock an "overweight" rating in a research report on Thursday, February 1st. Finally, Evercore ISI increased their target price on Scorpio Tankers from $89.00 to $91.00 and gave the stock an "outperform" rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $80.17.

Scorpio Tankers Stock Performance

Shares of STNG traded up $0.61 during trading hours on Tuesday, reaching $82.99. 513,803 shares of the company's stock traded hands, compared to its average volume of 1,071,254. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 1.23 and a beta of 0.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.60 and a quick ratio of 1.58. Scorpio Tankers Inc. has a twelve month low of $40.34 and a twelve month high of $83.33. The business's fifty day simple moving average is $72.74 and its two-hundred day simple moving average is $66.12.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The shipping company reported $3.97 EPS for the quarter, beating analysts' consensus estimates 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. Analysts predict that Scorpio Tankers Inc. will post 11.73 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 1.93%. Scorpio Tankers's dividend payout ratio is currently 14.84%.

About Scorpio Tankers

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.