Scorpio Tankers Inc. (NYSE:STNG) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in Scorpio Tankers Inc. (NYSE:STNG) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,338 shares of the shipping company’s stock after acquiring an additional 171 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Scorpio Tankers were worth $811,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Neo Ivy Capital Management purchased a new stake in Scorpio Tankers during the third quarter valued at about $27,000. CWM LLC boosted its position in shares of Scorpio Tankers by 1,037.0% in the third quarter. CWM LLC now owns 523 shares of the shipping company’s stock worth $28,000 after buying 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. Sunbelt Securities Inc. acquired a new stake in Scorpio Tankers during the third quarter valued at approximately $54,000. Finally, U S Global Investors Inc. raised its stake in Scorpio Tankers by 14.5% during the fourth quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock valued at $106,000 after buying an additional 220 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Price Performance

STNG opened at $71.81 on Friday. The stock has a fifty day moving average of $69.92 and a 200-day moving average of $63.56. The firm has a market capitalization of $3.81 billion, a P/E ratio of 7.22, a PEG ratio of 1.21 and a beta of 0.21. Scorpio Tankers Inc. has a 12-month low of $40.34 and a 12-month high of $74.04. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.37.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.13. The company 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%. The company’s revenue for the quarter was down 31.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.24 earnings per share. Equities analysts forecast that Scorpio Tankers Inc. will post 12.55 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were issued 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 dividend yield of 2.23%. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. Scorpio Tankers’s dividend payout ratio is presently 16.10%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STNG. JPMorgan Chase & Co. upped their price objective on Scorpio Tankers from $85.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Evercore ISI increased their price target 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 report on Friday, February 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a report on Wednesday, February 14th. Two 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 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.