Mackenzie Financial Corp Acquires Shares of 62,046 Scorpio Tankers Inc. (NYSE:STNG)

Mackenzie Financial Corp acquired a new stake in Scorpio Tankers Inc. (NYSE:STNG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 62,046 shares of the shipping company’s stock, valued at approximately $3,772,000.

Several other hedge funds also recently modified their holdings of STNG. Neo Ivy Capital Management purchased a new position in shares of Scorpio Tankers during the third quarter valued at approximately $27,000. Lazard Asset Management LLC boosted its position in shares of Scorpio Tankers by 1,985.7% during the second quarter. Lazard Asset Management LLC now owns 584 shares of the shipping company’s stock valued at $27,000 after buying an additional 556 shares during the last quarter. CWM LLC boosted its position in shares of Scorpio Tankers by 1,037.0% during the third quarter. CWM LLC now owns 523 shares of the shipping company’s stock valued at $28,000 after buying an additional 477 shares during the last quarter. Headinvest LLC purchased a new position in shares of Scorpio Tankers during the third quarter valued at approximately $51,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of Scorpio Tankers during the third quarter valued at approximately $54,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

Shares of STNG opened at $69.53 on Monday. The firm has a market cap of $3.69 billion, a PE ratio of 6.99 and a beta of 0.21. The stock’s fifty day moving average price is $69.73 and its two-hundred day moving average price is $63.14. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.13 and a quick ratio of 1.12. Scorpio Tankers Inc. has a 1 year low of $40.34 and a 1 year high of $74.04.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.13. The firm had revenue of $336.30 million for 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%. The business’s revenue was down 31.9% on a year-over-year basis. During the same period in the previous year, the company posted $4.24 earnings per share. On average, equities research analysts forecast that Scorpio Tankers Inc. will post 12.15 EPS for the current year.

Scorpio Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.30%. Scorpio Tankers’s payout ratio is presently 16.10%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on STNG shares. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research report on Wednesday, February 14th. JPMorgan Chase & Co. boosted their price objective on Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Evercore ISI boosted their price objective on Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.