Strs Ohio Has $1.13 Million Stake in Scorpio Tankers Inc. (NYSE:STNG)

Strs Ohio lifted its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 78.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 18,600 shares of the shipping company’s stock after acquiring an additional 8,200 shares during the period. Strs Ohio’s holdings in Scorpio Tankers were worth $1,130,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Simplicity Solutions LLC grew its position in shares of Scorpio Tankers by 5.8% during the 4th quarter. Simplicity Solutions LLC now owns 8,191 shares of the shipping company’s stock worth $498,000 after buying an additional 446 shares during the period. Quaero Capital S.A. acquired a new stake in shares of Scorpio Tankers during the 4th quarter worth approximately $608,000. Moody Aldrich Partners LLC grew its position in shares of Scorpio Tankers by 34.6% during the 4th quarter. Moody Aldrich Partners LLC now owns 123,187 shares of the shipping company’s stock worth $7,490,000 after buying an additional 31,649 shares during the period. Bleakley Financial Group LLC grew its position in shares of Scorpio Tankers by 5.8% during the 4th quarter. Bleakley Financial Group LLC now owns 8,191 shares of the shipping company’s stock worth $498,000 after buying an additional 446 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of Scorpio Tankers by 4,706.2% during the 4th quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock worth $59,025,000 after buying an additional 950,600 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

Shares of STNG opened at $70.62 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.13. Scorpio Tankers Inc. has a twelve month low of $40.34 and a twelve month high of $74.04. The firm’s 50 day moving average price is $69.76 and its two-hundred day moving average price is $63.37. The firm has a market cap of $3.75 billion, a P/E ratio of 7.10 and a beta of 0.21.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.13. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The firm had revenue of $336.30 million for the quarter, compared to analyst estimates of $335.70 million. During the same quarter in the previous year, the firm posted $4.24 earnings per share. The business’s revenue was down 31.9% on a year-over-year basis. On average, analysts forecast that Scorpio Tankers Inc. will post 12.38 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The business also recently declared 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 represents a $1.60 dividend on an annualized basis and a yield of 2.27%. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. Scorpio Tankers’s payout ratio is presently 16.10%.

Analyst Upgrades and Downgrades

STNG has been the subject of several analyst reports. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Evercore ISI lifted their price objective on shares of Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. lifted their price objective on shares of Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.