Beck Bode LLC Acquires New Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Beck Bode LLC acquired a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 26,600 shares of the shipping company’s stock, valued at approximately $2,162,000. Beck Bode LLC owned approximately 0.05% of Scorpio Tankers at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jump Financial LLC purchased a new position in Scorpio Tankers during the fourth quarter valued at approximately $639,000. Principal Financial Group Inc. grew its position in Scorpio Tankers by 24.9% during the fourth quarter. Principal Financial Group Inc. now owns 42,142 shares of the shipping company’s stock worth $2,562,000 after buying an additional 8,409 shares in the last quarter. Norges Bank bought a new position in Scorpio Tankers in the fourth quarter worth $34,009,000. Franklin Resources Inc. increased its stake in Scorpio Tankers by 2.3% in the fourth quarter. Franklin Resources Inc. now owns 20,668 shares of the shipping company’s stock valued at $1,257,000 after acquiring an additional 464 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Scorpio Tankers by 11.9% in the 4th quarter. US Bancorp DE now owns 14,850 shares of the shipping company’s stock worth $903,000 after buying an additional 1,580 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on STNG shares. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Evercore ISI boosted their price objective on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Jefferies Financial Group restated a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday, July 30th. Stifel Nicolaus lifted their target price on Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Bank of America decreased their price objective on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.17.

Scorpio Tankers Trading Up 1.3 %

Shares of STNG opened at $69.56 on Wednesday. The firm has a market cap of $3.80 billion, a P/E ratio of 6.45, a price-to-earnings-growth ratio of 1.85 and a beta of 0.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67. The business has a 50-day moving average of $72.70 and a 200 day moving average of $74.53. Scorpio Tankers Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $84.67.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.08. The company had revenue of $380.70 million during the quarter, compared to the consensus estimate of $368.62 million. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.41 EPS. As a group, research analysts forecast that Scorpio Tankers Inc. will post 12.71 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s dividend payout ratio (DPR) is 14.84%.

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.