Clear Street Markets LLC Purchases Shares of 49,100 Scorpio Tankers Inc. (NYSE:STNG)

Clear Street Markets LLC bought a new position in shares of Scorpio Tankers Inc. (NYSE:STNGFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 49,100 shares of the shipping company’s stock, valued at approximately $2,985,000.

A number of other large investors have also recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new position in Scorpio Tankers during the third quarter valued at approximately $27,000. Headinvest LLC purchased a new position in Scorpio Tankers during the third quarter worth approximately $51,000. Sunbelt Securities Inc. acquired a new position in shares of Scorpio Tankers during the 3rd quarter worth approximately $54,000. U S Global Investors Inc. lifted its position in shares of Scorpio Tankers by 14.5% during the 4th quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock valued at $106,000 after buying an additional 220 shares in the last quarter. Finally, Bfsg LLC acquired a new stake in Scorpio Tankers in the 4th quarter valued at $114,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Trading Up 2.7 %

Shares of STNG traded up $2.07 during mid-day trading on Wednesday, reaching $80.11. The stock had a trading volume of 659,945 shares, compared to its average volume of 1,014,289. Scorpio Tankers Inc. has a 52-week low of $40.34 and a 52-week high of $83.33. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 7.43, a P/E/G ratio of 1.22 and a beta of 0.20. The business’s fifty day moving average is $75.84 and its 200 day moving average is $68.92. 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 (NYSE:STNGGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.72 by $0.25. The firm had revenue of $389.76 million for the quarter, compared to analysts’ expectations of $381.46 million. Scorpio Tankers had a return on equity of 22.84% and a net margin of 42.12%. On average, sell-side analysts predict that Scorpio Tankers Inc. will post 11.73 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 14th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 14.84%.

Analysts Set New Price Targets

STNG has been the topic of several recent analyst reports. Evercore ISI increased their price objective on shares of Scorpio Tankers from $89.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. StockNews.com upgraded Scorpio Tankers from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 9th. Finally, Bank of America lifted their target price on shares of Scorpio Tankers from $76.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.17.

View Our Latest Stock Analysis on STNG

Scorpio Tankers Profile

(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.

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Institutional Ownership by Quarter for Scorpio Tankers (NYSE:STNG)

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