EverSource Wealth Advisors LLC Acquires 876 Shares of Scorpio Tankers Inc. (NYSE:STNG)

EverSource Wealth Advisors LLC boosted its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 850.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 979 shares of the shipping company’s stock after acquiring an additional 876 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Scorpio Tankers were worth $49,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in STNG. GAMMA Investing LLC lifted its position in shares of Scorpio Tankers by 204.1% in the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after purchasing an additional 402 shares during the period. Lindbrook Capital LLC lifted its position in shares of Scorpio Tankers by 75.8% in the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after purchasing an additional 263 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Scorpio Tankers by 40.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock worth $46,000 after purchasing an additional 266 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Scorpio Tankers in the 3rd quarter worth approximately $68,000. Finally, Quarry LP lifted its position in shares of Scorpio Tankers by 103.5% in the 3rd quarter. Quarry LP now owns 1,349 shares of the shipping company’s stock worth $96,000 after purchasing an additional 686 shares during the period. 54.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus dropped their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $68.75.

Scorpio Tankers Stock Up 1.8 %

Scorpio Tankers stock opened at $41.51 on Thursday. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25. Scorpio Tankers Inc. has a 12-month low of $37.14 and a 12-month high of $84.67. The firm’s fifty day moving average is $45.42 and its 200 day moving average is $54.38. The company has a market capitalization of $2.10 billion, a PE ratio of 3.18 and a beta of 0.01.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. As a group, sell-side analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 3.85%. 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.