111 Capital Makes New Investment in Scorpio Tankers Inc. (NYSE:STNG)

111 Capital bought a new position in Scorpio Tankers Inc. (NYSE:STNG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,798 shares of the shipping company’s stock, valued at approximately $238,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. LM Asset IM Inc. acquired a new stake in Scorpio Tankers in the fourth quarter worth approximately $1,988,000. Vident Advisory LLC boosted its stake in shares of Scorpio Tankers by 5.8% during the 4th quarter. Vident Advisory LLC now owns 14,955 shares of the shipping company’s stock worth $743,000 after acquiring an additional 818 shares in the last quarter. Sherbrooke Park Advisers LLC boosted its stake in shares of Scorpio Tankers by 28.3% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 4,035 shares of the shipping company’s stock worth $200,000 after acquiring an additional 889 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Scorpio Tankers by 41.8% during the 4th quarter. ProShare Advisors LLC now owns 12,552 shares of the shipping company’s stock worth $624,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Interval Partners LP bought a new stake in shares of Scorpio Tankers during the 4th quarter worth $657,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Price Performance

STNG opened at $39.79 on Friday. The stock has a fifty day moving average of $37.84 and a 200-day moving average of $44.07. The firm has a market capitalization of $2.03 billion, a P/E ratio of 3.05 and a beta of -0.12. Scorpio Tankers Inc. has a 12-month low of $30.63 and a 12-month high of $84.67. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.32. The company had revenue of $204.20 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $3.97 earnings per share. Equities analysts forecast 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. Investors 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 4.02%. Scorpio Tankers’s dividend payout ratio is 15.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on STNG shares. Fearnley Fonds raised Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Evercore ISI reduced 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 reduced 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 reissued a “buy” rating and set a $65.00 price objective 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.