Y Intercept Hong Kong Ltd Purchases 7,793 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Y Intercept Hong Kong Ltd raised its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 40.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,190 shares of the shipping company’s stock after purchasing an additional 7,793 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.05% of Scorpio Tankers worth $1,351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Scorpio Tankers by 16.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 32,903 shares of the shipping company’s stock worth $2,346,000 after purchasing an additional 4,564 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Scorpio Tankers by 51.9% during the third quarter. Assenagon Asset Management S.A. now owns 20,518 shares of the shipping company’s stock valued at $1,463,000 after buying an additional 7,010 shares during the last quarter. Measured Wealth Private Client Group LLC increased its holdings in Scorpio Tankers by 4.0% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 12,541 shares of the shipping company’s stock worth $894,000 after buying an additional 484 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in Scorpio Tankers in the 3rd quarter worth about $7,479,000. Finally, Harbor Capital Advisors Inc. bought a new position in Scorpio Tankers during the 3rd quarter valued at about $28,000. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Performance

STNG opened at $40.76 on Thursday. Scorpio Tankers Inc. has a 12-month low of $40.47 and a 12-month high of $84.67. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 3.13 and a beta of 0.08. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $48.42 and its 200 day moving average is $57.79.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) 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%. On average, equities research analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Evercore ISI reduced their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Stifel Nicolaus cut their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $75.00 price target on shares of Scorpio Tankers in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Scorpio Tankers has an average rating of “Hold” and a consensus price target of $68.75.

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.