KBC Group NV Has $294,000 Stake in Scorpio Tankers Inc. (NYSE:STNG)

KBC Group NV boosted its holdings in Scorpio Tankers Inc. (NYSE:STNGFree Report) by 14.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,836 shares of the shipping company’s stock after purchasing an additional 596 shares during the quarter. KBC Group NV’s holdings in Scorpio Tankers were worth $294,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Neo Ivy Capital Management purchased a new position in Scorpio Tankers during the 3rd quarter worth $27,000. Headinvest LLC purchased a new position in Scorpio Tankers during the 3rd quarter worth $51,000. Sunbelt Securities Inc. purchased a new position in Scorpio Tankers during the 3rd quarter worth $54,000. U S Global Investors Inc. boosted its holdings in Scorpio Tankers by 14.5% during the 4th quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock worth $106,000 after acquiring an additional 220 shares during the last quarter. Finally, Bfsg LLC purchased a new position in Scorpio Tankers during the 4th quarter worth $114,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on STNG shares. StockNews.com raised shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 9th. Bank of America upped their price target on Scorpio Tankers from $76.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, May 10th. 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 report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.17.

Check Out Our Latest Research Report on STNG

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock opened at $80.37 on Monday. The business has a 50 day moving average of $75.43 and a 200 day moving average of $68.52. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.35. The company has a market cap of $4.39 billion, a PE ratio of 7.46, a P/E/G ratio of 1.21 and a beta of 0.20. Scorpio Tankers Inc. has a 52 week low of $40.34 and a 52 week high of $83.33.

Scorpio Tankers (NYSE:STNGGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.72 by $0.25. The business had revenue of $389.76 million during the quarter, compared to the consensus estimate of $381.46 million. Scorpio Tankers had a return on equity of 22.84% and a net margin of 42.12%. As a group, equities research analysts forecast that Scorpio Tankers Inc. will post 11.73 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 1.99%. Scorpio Tankers’s dividend payout ratio (DPR) is 14.84%.

About Scorpio Tankers

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Scorpio Tankers (NYSE:STNG)

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