Daiwa Securities Group Inc. Acquires 171 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Daiwa Securities Group Inc. boosted its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 1.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,338 shares of the shipping company’s stock after purchasing an additional 171 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Scorpio Tankers were worth $811,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in Scorpio Tankers by 94.4% in the third quarter. FMR LLC now owns 2,334,754 shares of the shipping company’s stock worth $126,357,000 after buying an additional 1,133,900 shares during the last quarter. International Assets Investment Management LLC lifted its position in Scorpio Tankers by 4,706.2% in the fourth quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock worth $59,025,000 after buying an additional 950,600 shares during the last quarter. Packer & Co Ltd bought a new stake in Scorpio Tankers in the third quarter worth $25,599,000. DNB Asset Management AS lifted its position in Scorpio Tankers by 167.0% in the fourth quarter. DNB Asset Management AS now owns 254,839 shares of the shipping company’s stock worth $15,494,000 after buying an additional 159,393 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Scorpio Tankers by 30.0% in the third quarter. American Century Companies Inc. now owns 400,833 shares of the shipping company’s stock worth $21,693,000 after buying an additional 92,561 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Performance

Shares of Scorpio Tankers stock opened at $71.81 on Friday. The firm has a market cap of $3.81 billion, a P/E ratio of 7.22, a P/E/G ratio of 1.21 and a beta of 0.21. The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. Scorpio Tankers Inc. has a 12 month low of $40.34 and a 12 month high of $74.04. The stock’s fifty day moving average price is $69.92 and its 200-day moving average price is $63.56.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.62 by $0.13. The firm had revenue of $336.30 million for the quarter, compared to analyst estimates of $335.70 million. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. The business’s revenue for the quarter was down 31.9% on a year-over-year basis. During the same quarter last year, the firm posted $4.24 earnings per share. On average, equities research analysts expect that Scorpio Tankers Inc. will post 12.55 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. Scorpio Tankers’s payout ratio is 16.10%.

Analysts Set New Price Targets

A number of analysts have weighed in on STNG shares. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. 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 note on Thursday, February 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a research note on Wednesday, February 14th. 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 note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $74.00.

Scorpio Tankers Company 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.