Ieq Capital LLC Buys Shares of 13,734 Scorpio Tankers Inc. (NYSE:STNG)

Ieq Capital LLC purchased a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 13,734 shares of the shipping company’s stock, valued at approximately $682,000.

A number of other large investors have also made changes to their positions in the business. Mountaineer Partners Management LLC raised its position in shares of Scorpio Tankers by 6,926.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after purchasing an additional 8,252,691 shares during the last quarter. Geode Capital Management LLC grew its position in Scorpio Tankers by 5.3% during the 3rd 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 last quarter. Fiera Capital Corp increased its stake in Scorpio Tankers by 1.6% during the 3rd quarter. Fiera Capital Corp now owns 351,456 shares of the shipping company’s stock valued at $25,059,000 after purchasing an additional 5,531 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Scorpio Tankers by 882.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock worth $10,020,000 after buying an additional 181,135 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Scorpio Tankers by 873.6% during the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock worth $13,418,000 after buying an additional 168,866 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on STNG shares. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. Evercore ISI cut their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Stifel Nicolaus reduced their price objective on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Scorpio Tankers currently has a consensus rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Trading Down 1.8 %

Shares of Scorpio Tankers stock opened at $41.19 on Wednesday. The stock has a market cap of $2.08 billion, a PE ratio of 3.16 and a beta of 0.08. The firm has a fifty day moving average price of $48.56 and a 200 day moving average price of $57.91. Scorpio Tankers Inc. has a 1 year low of $40.73 and a 1 year high of $84.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39.

Scorpio Tankers (NYSE:STNG) last released 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%. Equities research analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared 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. This represents a $1.60 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s payout ratio is presently 12.27%.

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.