Norden Group LLC Purchases New Position in Scorpio Tankers Inc. (NYSE:STNG)

Norden Group LLC purchased a new stake in Scorpio Tankers Inc. (NYSE:STNGFree Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,904 shares of the shipping company’s stock, valued at approximately $279,000.

A number of other institutional investors have also recently made changes to their positions in the business. Epoch Investment Partners Inc. lifted its holdings in shares of Scorpio Tankers by 0.7% in the 4th quarter. Epoch Investment Partners Inc. now owns 22,685 shares of the shipping company’s stock valued at $1,379,000 after acquiring an additional 150 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Scorpio Tankers by 1.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 13,338 shares of the shipping company’s stock worth $811,000 after purchasing an additional 171 shares during the last quarter. U S Global Investors Inc. lifted its stake in Scorpio Tankers by 14.5% in the fourth quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock worth $106,000 after purchasing an additional 220 shares during the last quarter. AlphaMark Advisors LLC lifted its stake in Scorpio Tankers by 5.9% in the first quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company’s stock worth $358,000 after purchasing an additional 281 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Scorpio Tankers by 2.1% in the fourth quarter. New York State Common Retirement Fund now owns 20,215 shares of the shipping company’s stock worth $1,229,000 after purchasing an additional 414 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on STNG. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research note on Thursday, May 9th. StockNews.com raised shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Finally, Bank of America raised their price objective on shares of Scorpio Tankers from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.67.

Check Out Our Latest Stock Report on STNG

Scorpio Tankers Stock Performance

Shares of NYSE:STNG opened at $78.13 on Tuesday. The firm has a market cap of $4.26 billion, a PE ratio of 7.25, a price-to-earnings-growth ratio of 1.08 and a beta of 0.16. The firm’s 50 day simple moving average is $79.37 and its 200-day simple moving average is $72.07. Scorpio Tankers Inc. has a one year low of $40.34 and a one year high of $84.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.58 and a current ratio of 1.60.

Scorpio Tankers (NYSE:STNGGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.72 by $0.25. The company had revenue of $389.76 million for the quarter, compared to analyst estimates of $381.46 million. Scorpio Tankers had a net margin of 42.12% and a return on equity of 22.84%. As a group, equities analysts predict that Scorpio Tankers Inc. will post 12.18 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Friday, June 14th. Scorpio Tankers’s payout ratio is 14.84%.

Scorpio Tankers Profile

(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.

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

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