43,133 Shares in Scorpio Tankers Inc. (NYSE:STNG) Acquired by Glenorchy Capital Ltd

Glenorchy Capital Ltd bought a new position in Scorpio Tankers Inc. (NYSE:STNG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 43,133 shares of the shipping company’s stock, valued at approximately $2,623,000. Scorpio Tankers accounts for about 1.0% of Glenorchy Capital Ltd’s investment portfolio, making the stock its 13th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in Scorpio Tankers by 94.4% in the third quarter. FMR LLC now owns 2,334,754 shares of the shipping company’s stock worth $126,357,000 after purchasing an additional 1,133,900 shares during the period. International Assets Investment Management LLC lifted its position in shares of Scorpio Tankers by 4,706.2% during the 4th quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock valued at $59,025,000 after acquiring an additional 950,600 shares during the last quarter. Pale Fire Capital SE lifted its position in shares of Scorpio Tankers by 6.0% during the 3rd quarter. Pale Fire Capital SE now owns 779,912 shares of the shipping company’s stock valued at $42,209,000 after acquiring an additional 44,162 shares during the last quarter. Packer & Co Ltd bought a new stake in shares of Scorpio Tankers during the 3rd quarter worth $25,599,000. Finally, American Century Companies Inc. boosted its stake in shares of Scorpio Tankers by 30.0% during the 3rd quarter. American Century Companies Inc. now owns 400,833 shares of the shipping company’s stock worth $21,693,000 after acquiring an additional 92,561 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STNG. Evercore ISI raised their price objective on Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. raised their price objective on Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.

Scorpio Tankers Stock Up 1.1 %

Shares of Scorpio Tankers stock traded up $0.78 during midday trading on Tuesday, hitting $70.62. The company’s stock had a trading volume of 423,294 shares, compared to its average volume of 1,161,340. The firm has a market capitalization of $3.75 billion, a P/E ratio of 7.10 and a beta of 0.21. The stock has a 50-day simple moving average of $69.76 and a 200-day simple moving average of $63.37. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.37. Scorpio Tankers Inc. has a 1-year low of $40.34 and a 1-year high of $74.04.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Wednesday, February 14th. The shipping company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.13. The firm had revenue of $336.30 million during the quarter, compared to analysts’ expectations of $335.70 million. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. The business’s revenue for the quarter was down 31.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.24 earnings per share. As a group, sell-side analysts expect that Scorpio Tankers Inc. will post 12.15 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 8th were given a dividend of $0.40 per share. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.27%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 16.10%.

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.