Scorpio Tankers Inc. (NYSE:STNG) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC boosted its position in Scorpio Tankers Inc. (NYSE:STNG) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,191 shares of the shipping company’s stock after acquiring an additional 446 shares during the quarter. Bleakley Financial Group LLC’s holdings in Scorpio Tankers were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new position in Scorpio Tankers in the third quarter valued at about $27,000. Lazard Asset Management LLC raised its position in Scorpio Tankers by 1,985.7% in the second quarter. Lazard Asset Management LLC now owns 584 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 556 shares during the period. CWM LLC raised its position in Scorpio Tankers by 1,037.0% in the third quarter. CWM LLC now owns 523 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 477 shares during the period. Headinvest LLC purchased a new position in Scorpio Tankers in the third quarter valued at about $51,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Scorpio Tankers in the third quarter valued at about $52,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 0.9 %

Shares of Scorpio Tankers stock opened at $70.97 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3.77 billion, a P/E ratio of 7.14 and a beta of 0.21. Scorpio Tankers Inc. has a fifty-two week low of $40.34 and a fifty-two week high of $74.04. The business has a 50-day moving average price of $69.33 and a 200 day moving average price of $62.54.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Wednesday, February 14th. The shipping company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.13. The firm had revenue of $336.30 million during the quarter, compared to analyst estimates of $335.70 million. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. Scorpio Tankers’s quarterly revenue was down 31.9% on a year-over-year basis. During the same period in the previous year, the company earned $4.24 earnings per share. On average, sell-side analysts forecast that Scorpio Tankers Inc. will post 12.3 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 8th were issued a $0.40 dividend. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date was Thursday, March 7th. Scorpio Tankers’s payout ratio is currently 16.10%.

Wall Street Analyst Weigh In

Several research firms have commented on STNG. JPMorgan Chase & Co. raised their price objective on Scorpio Tankers from $85.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Evercore ISI lifted their target price on Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.

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.