Waldron Private Wealth LLC Makes New $382,000 Investment in Scorpio Tankers Inc. (NYSE:STNG)

Waldron Private Wealth LLC bought a new position in Scorpio Tankers Inc. (NYSE:STNG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,294 shares of the shipping company’s stock, valued at approximately $382,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Neo Ivy Capital Management bought a new position in shares of Scorpio Tankers in the third quarter valued at approximately $27,000. Lazard Asset Management LLC boosted its holdings in shares of Scorpio Tankers by 1,985.7% in the second quarter. Lazard Asset Management LLC now owns 584 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 556 shares in the last quarter. CWM LLC lifted its stake in Scorpio Tankers by 1,037.0% during the third quarter. CWM LLC now owns 523 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 477 shares during the last quarter. Headinvest LLC acquired a new stake in Scorpio Tankers during the third quarter valued at approximately $51,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Scorpio Tankers during the third quarter valued at approximately $52,000. Institutional investors own 54.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on STNG. JPMorgan Chase & Co. upped their price target on shares of Scorpio Tankers from $85.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Evercore ISI upped their price target on shares of Scorpio Tankers from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a research report on Wednesday, February 14th. Finally, StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Scorpio Tankers presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $70.59 on Tuesday. The company’s fifty day simple moving average is $69.41 and its 200-day simple moving average is $62.72. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3.75 billion, a PE ratio of 7.10 and a beta of 0.21. Scorpio Tankers Inc. has a 12 month low of $40.34 and a 12 month high of $74.04.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.13. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The firm had revenue of $336.30 million for the quarter, compared to analyst estimates of $335.70 million. During the same period in the prior year, the firm posted $4.24 earnings per share. The company’s quarterly revenue was down 31.9% compared to the same quarter last year. Equities research analysts expect that Scorpio Tankers Inc. will post 12.3 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were issued a $0.40 dividend. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Thursday, March 7th. Scorpio Tankers’s payout ratio is currently 16.10%.

Scorpio Tankers Company 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.