Oxford Asset Management LLP Invests $374,000 in Scorpio Tankers Inc. (NYSE:STNG)

Oxford Asset Management LLP acquired a new position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,518 shares of the shipping company's stock, valued at approximately $374,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boothbay Fund Management LLC acquired a new stake in Scorpio Tankers in the fourth quarter valued at approximately $457,000. Price T Rowe Associates Inc. MD increased its holdings in Scorpio Tankers by 12.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 92,820 shares of the shipping company's stock valued at $4,614,000 after buying an additional 10,016 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in Scorpio Tankers during the fourth quarter worth approximately $313,000. Stifel Financial Corp boosted its position in Scorpio Tankers by 83.0% during the fourth quarter. Stifel Financial Corp now owns 9,857 shares of the shipping company's stock worth $490,000 after purchasing an additional 4,470 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Scorpio Tankers by 1,652.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,626 shares of the shipping company's stock worth $230,000 after purchasing an additional 4,362 shares in the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on STNG. Jefferies Financial Group reiterated a "buy" rating and set a $75.00 price objective on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus dropped their price objective 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. Finally, Evercore ISI dropped their price objective on Scorpio Tankers from $64.00 to $60.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $63.75.

Scorpio Tankers Trading Down 0.3 %

Shares of STNG traded down $0.11 during mid-day trading on Wednesday, reaching $37.69. The company had a trading volume of 1,200,127 shares, compared to its average volume of 893,507. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 2.89 and a beta of -0.01. The firm has a fifty day simple moving average of $37.56 and a 200-day simple moving average of $47.18. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $84.67. 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 (NYSE:STNG - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. On average, sell-side analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Friday, March 7th. Scorpio Tankers's dividend payout ratio (DPR) is presently 12.27%.

Scorpio Tankers 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.