Interval Partners LP Invests $657,000 in Scorpio Tankers Inc. (NYSE:STNG)

Interval Partners LP bought a new stake in Scorpio Tankers Inc. (NYSE:STNG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 13,225 shares of the shipping company’s stock, valued at approximately $657,000.

A number of other institutional investors and hedge funds have also bought and sold shares of STNG. J. Goldman & Co LP bought a new position in Scorpio Tankers during the fourth quarter valued at approximately $9,830,000. Jefferies Financial Group Inc. purchased a new stake in Scorpio Tankers in the fourth quarter worth $9,912,000. Glenorchy Capital Ltd lifted its position in 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 period. Ellevest Inc. raised its position in shares of Scorpio Tankers by 8.4% in the 4th quarter. Ellevest Inc. now owns 6,278 shares of the shipping company’s stock worth $312,000 after purchasing an additional 485 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Scorpio Tankers by 52.6% in the 4th quarter. Deutsche Bank AG now owns 37,508 shares of the shipping company’s stock worth $1,864,000 after purchasing an additional 12,923 shares during the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Fearnley Fonds raised shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. 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 note on Friday, May 2nd. 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 note on Friday, February 14th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $65.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Scorpio Tankers presently has an average rating of “Moderate Buy” and an average target price of $60.50.

Scorpio Tankers Trading Up 2.4%

STNG stock opened at $42.10 on Tuesday. 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 company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 3.23 and a beta of -0.12. The business has a 50 day simple moving average of $37.48 and a two-hundred day simple moving average of $45.61.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.32. The business had revenue of $204.20 million for the quarter, compared to analysts’ expectations of $205.89 million. Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. The company’s revenue for the quarter was down 45.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.97 EPS. Research analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS 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. Stockholders of record on Friday, May 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 3.80%. Scorpio Tankers’s dividend payout ratio (DPR) is 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.