GeoSphere Capital Management LLC Cuts Stake in Scorpio Tankers Inc. (NYSE:STNG)

GeoSphere Capital Management LLC cut its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 50,000 shares of the shipping company’s stock after selling 500 shares during the quarter. Scorpio Tankers makes up 1.2% of GeoSphere Capital Management LLC’s portfolio, making the stock its 16th biggest holding. GeoSphere Capital Management LLC’s holdings in Scorpio Tankers were worth $2,484,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STNG. Glenorchy Capital Ltd raised its position in shares of Scorpio Tankers by 2.3% during the fourth quarter. Glenorchy Capital Ltd now owns 30,705 shares of the shipping company’s stock valued at $1,526,000 after buying an additional 701 shares during the last quarter. Ellevest Inc. increased its holdings in Scorpio Tankers by 8.4% in the 4th quarter. Ellevest Inc. now owns 6,278 shares of the shipping company’s stock valued at $312,000 after acquiring an additional 485 shares during the last quarter. Deutsche Bank AG increased its holdings in Scorpio Tankers by 52.6% in the 4th quarter. Deutsche Bank AG now owns 37,508 shares of the shipping company’s stock valued at $1,864,000 after acquiring an additional 12,923 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in Scorpio Tankers in the 4th quarter worth $7,044,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Scorpio Tankers during the 4th quarter valued at about $14,426,000. 54.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Scorpio Tankers Trading Up 1.1 %

Shares of NYSE STNG opened at $41.14 on Friday. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $84.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The business’s 50 day moving average is $37.44 and its two-hundred day moving average is $45.99. The stock has a market capitalization of $2.10 billion, a P/E ratio of 3.15 and a beta of -0.12.

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

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers’s dividend payout ratio is currently 15.76%.

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.