Moors & Cabot Inc. Increases Stock Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Moors & Cabot Inc. boosted its stake in Scorpio Tankers Inc. (NYSE:STNG) by 102.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,900 shares of the shipping company’s stock after acquiring an additional 6,030 shares during the period. Moors & Cabot Inc.’s holdings in Scorpio Tankers were worth $591,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 402 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after buying an additional 263 shares during the period. AM Squared Ltd bought a new stake in Scorpio Tankers during the 3rd quarter valued at approximately $64,000. PNC Financial Services Group Inc. grew its holdings in shares of Scorpio Tankers by 40.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock worth $46,000 after acquiring an additional 266 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Scorpio Tankers in the 3rd quarter worth approximately $68,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Up 2.1 %

STNG stock opened at $39.57 on Friday. The business has a 50 day moving average of $46.03 and a 200 day moving average of $55.13. The firm has a market cap of $2.00 billion, a PE ratio of 3.03 and a beta of 0.01. Scorpio Tankers Inc. has a twelve month low of $37.14 and a twelve month high of $84.67. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25.

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

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.04%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Stifel Nicolaus dropped their price target on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Jefferies Financial Group restated a “buy” rating and set a $75.00 target price on shares of Scorpio Tankers in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Scorpio Tankers presently has a consensus rating of “Hold” and a consensus target price of $68.75.

Scorpio Tankers 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.