Stifel Financial Corp Buys 4,470 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Stifel Financial Corp grew its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 83.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,857 shares of the shipping company’s stock after buying an additional 4,470 shares during the period. Stifel Financial Corp’s holdings in Scorpio Tankers were worth $490,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Scorpio Tankers by 882.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock valued at $10,020,000 after purchasing an additional 181,135 shares in the last quarter. Norges Bank bought a new position in shares of Scorpio Tankers during the 4th quarter valued at about $30,374,000. Barclays PLC lifted its holdings in shares of Scorpio Tankers by 873.6% during the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after purchasing an additional 168,866 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Scorpio Tankers during the 4th quarter valued at about $684,000. Finally, Savant Capital LLC bought a new position in shares of Scorpio Tankers during the 4th quarter valued at about $346,000. Institutional investors own 54.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on STNG. Fearnley Fonds upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Evercore ISI cut their price objective on Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $65.00 price objective on shares of Scorpio Tankers in a report on Thursday, May 1st. Finally, Stifel Nicolaus cut their target price on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.50.

Scorpio Tankers Trading Up 2.4%

NYSE STNG opened at $42.10 on Tuesday. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 3.23 and a beta of -0.12. The stock’s 50 day moving average price is $37.48 and its two-hundred day moving average price is $45.61. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. Scorpio Tankers Inc. has a 52 week low of $30.63 and a 52 week high of $84.67.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.71 by $0.32. The firm had revenue of $204.20 million for the quarter, compared to analysts’ expectations of $205.89 million. Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. The business’s quarterly revenue was down 45.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.97 EPS. As a group, analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers’s dividend payout ratio is currently 15.76%.

About Scorpio Tankers

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.