Scorpio Tankers Inc. (NYSE:STNG) Stock Position Raised by U S Global Investors Inc.

U S Global Investors Inc. lifted its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 172.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,877 shares of the shipping company’s stock after buying an additional 3,088 shares during the period. U S Global Investors Inc.’s holdings in Scorpio Tankers were worth $348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new position in Scorpio Tankers in the first quarter valued at about $596,000. BNP Paribas Financial Markets grew its stake in Scorpio Tankers by 37.0% in the first quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company’s stock valued at $6,356,000 after purchasing an additional 23,975 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Scorpio Tankers by 101.4% in the first quarter. Acadian Asset Management LLC now owns 19,456 shares of the shipping company’s stock worth $1,391,000 after buying an additional 9,798 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of Scorpio Tankers in the first quarter worth about $2,107,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Scorpio Tankers by 354.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,439 shares of the shipping company’s stock worth $3,896,000 after buying an additional 42,451 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Analyst Upgrades and Downgrades

STNG has been the subject of a number of analyst reports. Evercore ISI boosted their price target on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Bank of America decreased their price objective on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Jefferies Financial Group restated a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Finally, StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Scorpio Tankers has a consensus rating of “Moderate Buy” and an average price target of $88.80.

Scorpio Tankers Trading Down 0.9 %

Scorpio Tankers stock traded down $0.57 during trading hours on Tuesday, reaching $65.99. 18,760 shares of the company’s stock traded hands, compared to its average volume of 900,886. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67. Scorpio Tankers Inc. has a fifty-two week low of $52.68 and a fifty-two week high of $84.67. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 5.23, a PEG ratio of 1.87 and a beta of 0.15. The firm’s 50 day moving average is $70.22 and its 200-day moving average is $74.44.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The company had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. During the same period in the prior year, the company posted $2.41 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. On average, analysts predict that Scorpio Tankers Inc. will post 12.43 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.42%. Scorpio Tankers’s dividend payout ratio (DPR) is 12.58%.

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.