Scorpio Tankers Inc. (NYSE:STNG) Shares Bought by WealthTrust Axiom LLC

WealthTrust Axiom LLC grew its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,545 shares of the shipping company’s stock after purchasing an additional 1,045 shares during the period. WealthTrust Axiom LLC’s holdings in Scorpio Tankers were worth $1,006,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in Scorpio Tankers by 94.4% in the third quarter. FMR LLC now owns 2,334,754 shares of the shipping company’s stock valued at $126,357,000 after buying an additional 1,133,900 shares in the last quarter. International Assets Investment Management LLC raised its stake in Scorpio Tankers by 4,706.2% in the fourth quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock valued at $59,025,000 after buying an additional 950,600 shares in the last quarter. Packer & Co Ltd acquired a new stake in Scorpio Tankers in the third quarter valued at $25,599,000. DNB Asset Management AS raised its stake in Scorpio Tankers by 167.0% in the fourth quarter. DNB Asset Management AS now owns 254,839 shares of the shipping company’s stock valued at $15,494,000 after buying an additional 159,393 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Scorpio Tankers by 30.0% in the third quarter. American Century Companies Inc. now owns 400,833 shares of the shipping company’s stock valued at $21,693,000 after buying an additional 92,561 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock traded down $1.68 during trading on Tuesday, hitting $70.57. 397,269 shares of the company were exchanged, compared to its average volume of 1,123,606. 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 Inc. has a fifty-two week low of $40.34 and a fifty-two week high of $74.04. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 7.10, a P/E/G ratio of 1.25 and a beta of 0.21. The firm has a 50 day moving average price of $70.07 and a 200 day moving average price of $64.02.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, February 14th. The shipping company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.62 by $0.13. The firm had revenue of $336.30 million during the quarter, compared to analysts’ expectations of $335.70 million. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. Scorpio Tankers’s revenue for the quarter was down 31.9% on a year-over-year basis. During the same period in the previous year, the company earned $4.24 EPS. On average, equities analysts expect that Scorpio Tankers Inc. will post 12.54 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. Scorpio Tankers’s payout ratio is currently 16.10%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their price objective on Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Evercore ISI raised their price target on Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a 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 set a $90.00 price target on shares of Scorpio Tankers in a report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.

Scorpio Tankers Company 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.