43,133 Shares in Scorpio Tankers Inc. (NYSE:STNG) Purchased by Glenorchy Capital Ltd

Glenorchy Capital Ltd bought a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 43,133 shares of the shipping company’s stock, valued at approximately $2,623,000. Scorpio Tankers accounts for about 1.0% of Glenorchy Capital Ltd’s holdings, making the stock its 13th largest holding. Glenorchy Capital Ltd owned 0.08% of Scorpio Tankers as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of STNG. Neo Ivy Capital Management acquired a new stake in Scorpio Tankers in the 3rd quarter worth about $27,000. CWM LLC raised its position in shares of Scorpio Tankers by 1,037.0% in the 3rd quarter. CWM LLC now owns 523 shares of the shipping company’s stock valued at $28,000 after buying an additional 477 shares in the last quarter. Headinvest LLC acquired a new position in shares of Scorpio Tankers in the 3rd quarter valued at approximately $51,000. Sunbelt Securities Inc. acquired a new position in shares of Scorpio Tankers in the 3rd quarter valued at approximately $54,000. Finally, U S Global Investors Inc. raised its position in shares of Scorpio Tankers by 14.5% in 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. Institutional investors own 54.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. JPMorgan Chase & Co. boosted their target price on shares of Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.00.

Scorpio Tankers Stock Up 1.1 %

STNG traded up $0.78 during trading on Tuesday, hitting $70.62. 423,294 shares of the company’s stock were exchanged, compared to its average volume of 1,161,340. 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 business’s 50 day moving average is $69.76 and its two-hundred day moving average is $63.37. Scorpio Tankers Inc. has a fifty-two week low of $40.34 and a fifty-two week high of $74.04. The stock has a market cap of $3.75 billion, a P/E ratio of 7.10 and a beta of 0.21.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Wednesday, February 14th. The shipping company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.13. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The firm had revenue of $336.30 million for the quarter, compared to the consensus estimate of $335.70 million. During the same quarter in the prior year, the company posted $4.24 earnings per share. The business’s revenue was down 31.9% on a year-over-year basis. As a group, equities analysts expect that Scorpio Tankers Inc. will post 12.15 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

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

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.