Bfsg LLC Purchases New Stake in Scorpio Tankers Inc. (NYSE:STNG)

Bfsg LLC acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,869 shares of the shipping company’s stock, valued at approximately $114,000.

A number of other large investors also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. boosted its stake in Scorpio Tankers by 1.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 13,338 shares of the shipping company’s stock valued at $811,000 after acquiring an additional 171 shares during the last quarter. U S Global Investors Inc. lifted its stake in Scorpio Tankers by 14.5% in the fourth quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock valued at $106,000 after buying an additional 220 shares during the period. Raymond James & Associates boosted its holdings in Scorpio Tankers by 5.6% during the third quarter. Raymond James & Associates now owns 6,203 shares of the shipping company’s stock worth $336,000 after buying an additional 331 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Scorpio Tankers by 2.1% during the fourth quarter. New York State Common Retirement Fund now owns 20,215 shares of the shipping company’s stock worth $1,229,000 after buying an additional 414 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in shares of Scorpio Tankers by 5.8% in the 4th quarter. Bleakley Financial Group LLC now owns 8,191 shares of the shipping company’s stock valued at $498,000 after acquiring an additional 446 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Stock Performance

Shares of NYSE:STNG traded up $0.28 on Thursday, hitting $71.12. The company had a trading volume of 67,513 shares, compared to its average volume of 1,139,810. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 7.13 and a beta of 0.21. The stock has a 50 day moving average price of $69.92 and a 200 day moving average price of $63.56. Scorpio Tankers Inc. has a 1-year low of $40.34 and a 1-year high of $74.04. The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.13. The business had revenue of $336.30 million for the quarter, compared to analyst estimates of $335.70 million. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. Scorpio Tankers’s quarterly revenue was down 31.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.24 EPS. Analysts expect that Scorpio Tankers Inc. will post 12.38 EPS for the current year.

Scorpio Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.35. Scorpio Tankers’s dividend payout ratio (DPR) is currently 16.10%.

Wall Street Analyst Weigh In

STNG has been the subject of a number of analyst reports. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. increased their price target on Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Evercore ISI lifted their price objective on Scorpio Tankers from $89.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research note on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.00.

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.