Fox Run Management L.L.C. Makes New Investment in Scorpio Tankers Inc. (NYSE:STNG)

Fox Run Management L.L.C. acquired a new position in Scorpio Tankers Inc. (NYSE:STNG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,800 shares of the shipping company’s stock, valued at approximately $934,000.

Other hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position 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 worth $10,020,000 after purchasing an additional 181,135 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Scorpio Tankers during the 3rd quarter valued at approximately $8,459,000. Mountaineer Partners Management LLC lifted its position in shares of Scorpio Tankers by 6,926.8% during 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 buying an additional 8,252,691 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Scorpio Tankers by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock valued at $54,768,000 after buying an additional 38,599 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Scorpio Tankers by 873.6% during the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after buying an additional 168,866 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on STNG shares. Stifel Nicolaus decreased their target price 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 reiterated a “buy” rating and set a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Scorpio Tankers currently has a consensus rating of “Hold” and an average price target of $68.75.

Scorpio Tankers Trading Down 5.9 %

Shares of STNG stock opened at $39.71 on Friday. The stock’s fifty day moving average is $44.91 and its two-hundred day moving average is $53.98. 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 firm has a market capitalization of $2.01 billion, a P/E ratio of 3.05 and a beta of 0.01. Scorpio Tankers Inc. has a fifty-two week low of $37.14 and a fifty-two week high of $84.67.

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%. Research analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.03%. Scorpio Tankers’s payout ratio is currently 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.