Ellevest Inc. Grows Stock Position in Scorpio Tankers Inc. (NYSE:STNG)

Ellevest Inc. boosted its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 8.4% in the 4th quarter, Holdings Channel reports. The fund owned 6,278 shares of the shipping company’s stock after acquiring an additional 485 shares during the quarter. Ellevest Inc.’s holdings in Scorpio Tankers were worth $312,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. GAMMA Investing LLC lifted its stake 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 valued at $30,000 after purchasing an additional 402 shares during the last quarter. Lindbrook Capital LLC boosted its stake 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 valued at $30,000 after buying an additional 263 shares during the period. Covestor Ltd grew its holdings in Scorpio Tankers by 1,375.0% during the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock worth $41,000 after acquiring an additional 770 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Scorpio Tankers by 40.1% during the fourth 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at about $68,000. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on STNG shares. Fearnley Fonds raised shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Stifel Nicolaus lowered their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Evercore ISI cut their price objective on Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $65.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 1st. Three 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.50.

Scorpio Tankers Trading Up 1.1 %

Scorpio Tankers stock opened at $41.14 on Friday. The stock has a market cap of $2.10 billion, a PE ratio of 3.15 and a beta of -0.12. Scorpio Tankers Inc. has a 52 week low of $30.63 and a 52 week 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. The stock has a 50-day moving average price of $37.48 and a 200 day moving average price of $45.72.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $205.89 million. During the same period last year, the company earned $3.97 EPS. The firm’s quarterly revenue was down 45.3% on a year-over-year basis. Equities research analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 15.76%.

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.