Scorpio Tankers Inc. (NYSE:STNG) Stock Holdings Lifted by Strs Ohio

Strs Ohio lifted its position in Scorpio Tankers Inc. (NYSE:STNG) by 78.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,600 shares of the shipping company’s stock after acquiring an additional 8,200 shares during the period. Strs Ohio’s holdings in Scorpio Tankers were worth $1,130,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Simplicity Solutions LLC increased its position in shares of Scorpio Tankers by 5.8% in the fourth quarter. Simplicity Solutions LLC now owns 8,191 shares of the shipping company’s stock worth $498,000 after acquiring an additional 446 shares in the last quarter. Quaero Capital S.A. purchased a new position in shares of Scorpio Tankers in the fourth quarter worth approximately $608,000. Moody Aldrich Partners LLC grew its position in Scorpio Tankers by 34.6% during the fourth quarter. Moody Aldrich Partners LLC now owns 123,187 shares of the shipping company’s stock valued at $7,490,000 after purchasing an additional 31,649 shares in the last quarter. Bleakley Financial Group LLC grew its position in Scorpio Tankers by 5.8% during the fourth quarter. Bleakley Financial Group LLC now owns 8,191 shares of the shipping company’s stock valued at $498,000 after purchasing an additional 446 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Scorpio Tankers by 4,706.2% during the fourth quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock valued at $59,025,000 after purchasing an additional 950,600 shares in the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Performance

STNG stock opened at $70.62 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 7.10 and a beta of 0.21. Scorpio Tankers Inc. has a 12 month low of $40.34 and a 12 month high of $74.04. The firm has a 50 day moving average of $69.76 and a two-hundred day moving average of $63.37.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Wednesday, February 14th. The shipping company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.62 by $0.13. The company 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 company’s revenue for the quarter 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. As a group, equities analysts anticipate that Scorpio Tankers Inc. will post 12.38 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.27%. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 7th. Scorpio Tankers’s payout ratio is presently 16.10%.

Analyst Ratings Changes

A number of research analysts recently commented on STNG shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a research report on Wednesday, February 14th. Evercore ISI boosted their price objective on shares of Scorpio Tankers from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. boosted 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. Finally, StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Scorpio Tankers presently has an average rating of “Moderate Buy” and a consensus target price of $74.00.

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.