Scorpio Tankers Inc. (NYSE:STNG) Stock Position Increased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its holdings in Scorpio Tankers Inc. (NYSE:STNGFree Report) by 16.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,467 shares of the shipping company’s stock after acquiring an additional 2,129 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Scorpio Tankers were worth $1,107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Neo Ivy Capital Management acquired a new position in shares of Scorpio Tankers in the 3rd quarter worth $27,000. Global Retirement Partners LLC grew its stake in Scorpio Tankers by 8,800.0% during the 1st quarter. Global Retirement Partners LLC now owns 534 shares of the shipping company’s stock valued at $38,000 after acquiring an additional 528 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Scorpio Tankers in the 1st quarter valued at about $58,000. Sunbelt Securities Inc. purchased a new stake in shares of Scorpio Tankers in the third quarter worth approximately $54,000. Finally, Headinvest LLC acquired a new stake in shares of Scorpio Tankers during the third quarter worth approximately $51,000. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Performance

NYSE STNG opened at $78.33 on Thursday. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 7.27, a PEG ratio of 1.05 and a beta of 0.16. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.35. Scorpio Tankers Inc. has a 1-year low of $40.34 and a 1-year high of $84.67. The company has a 50 day moving average of $79.71 and a 200-day moving average of $72.21.

Scorpio Tankers (NYSE:STNGGet Free Report) last announced its earnings results on Thursday, May 9th. The shipping company reported $3.97 EPS for the quarter, topping the consensus estimate of $3.72 by $0.25. Scorpio Tankers had a return on equity of 22.84% and a net margin of 42.12%. The company had revenue of $389.76 million for the quarter, compared to analysts’ expectations of $381.46 million. On average, equities analysts forecast that Scorpio Tankers Inc. will post 12.18 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 14.84%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group reissued a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a research report on Thursday, May 9th. StockNews.com raised Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Finally, Bank of America upped their target price on shares of Scorpio Tankers from $82.00 to $85.00 and gave the company 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 company. According to MarketBeat.com, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

Read Our Latest Stock Analysis on STNG

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.

Further Reading

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

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