Ruffer LLP Makes New $962,000 Investment in Scorpio Tankers Inc. (NYSE:STNG)

Ruffer LLP purchased a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,353 shares of the shipping company’s stock, valued at approximately $962,000.

Several other hedge funds also recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its holdings in Scorpio Tankers by 882.8% in 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 buying an additional 181,135 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Scorpio Tankers in the third quarter valued at approximately $8,459,000. Mountaineer Partners Management LLC increased its position in Scorpio Tankers by 6,926.8% during the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after purchasing an additional 8,252,691 shares during the last quarter. Geode Capital Management LLC raised its stake in Scorpio Tankers by 5.3% during the third quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock worth $54,768,000 after purchasing an additional 38,599 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Scorpio Tankers by 873.6% in 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 during the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on STNG. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 price objective on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus reduced their price objective 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. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Scorpio Tankers presently has a consensus rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Trading Down 0.7 %

Shares of STNG opened at $39.74 on Friday. Scorpio Tankers Inc. has a one year low of $38.03 and a one year high of $84.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The company has a market capitalization of $2.01 billion, a P/E ratio of 3.05 and a beta of 0.01. The stock has a 50-day moving average price of $47.11 and a 200 day moving average price of $56.14.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. Sell-side analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Friday, March 7th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 12.27%.

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.