Balyasny Asset Management L.P. Purchases New Position in Scorpio Tankers Inc. (NYSE:STNG)

Balyasny Asset Management L.P. acquired a new position in Scorpio Tankers Inc. (NYSE:STNG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 290,323 shares of the shipping company’s stock, valued at approximately $14,426,000. Balyasny Asset Management L.P. owned approximately 0.57% of Scorpio Tankers at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in STNG. Barclays PLC boosted its holdings in Scorpio Tankers by 873.6% during the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock worth $13,418,000 after buying an additional 168,866 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Scorpio Tankers during the 3rd quarter worth about $68,000. Franklin Resources Inc. increased its stake in shares of Scorpio Tankers by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 57,293 shares of the shipping company’s stock valued at $3,985,000 after purchasing an additional 4,407 shares in the last quarter. GAMMA Investing LLC raised its holdings in 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. Finally, Assenagon Asset Management S.A. boosted its position in Scorpio Tankers by 882.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock worth $10,020,000 after purchasing an additional 181,135 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Up 1.2 %

STNG stock opened at $40.59 on Friday. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 3.11 and a beta of -0.12. The firm has a 50-day moving average of $37.41 and a two-hundred day moving average of $46.17. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $84.67. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.32. The firm had revenue of $204.20 million for the quarter, compared to the consensus estimate of $205.89 million. Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. The firm’s revenue was down 45.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.97 earnings per share. As a group, analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Friday, May 30th. Scorpio Tankers’s dividend payout ratio is currently 15.76%.

Analyst Ratings Changes

A number of analysts have recently commented on STNG shares. Stifel Nicolaus cut their price objective on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Evercore ISI reduced their price objective on shares of Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Fearnley Fonds upgraded shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group restated a “buy” rating and set a $65.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Scorpio Tankers has an average rating of “Moderate Buy” and a consensus price target of $60.50.

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.