International Assets Investment Management LLC Has $1.57 Million Stake in Scorpio Tankers Inc. (NYSE:STNG)

International Assets Investment Management LLC raised its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 34.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,517 shares of the shipping company’s stock after purchasing an additional 5,550 shares during the quarter. International Assets Investment Management LLC’s holdings in Scorpio Tankers were worth $1,565,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Quadrature Capital Ltd acquired a new position in shares of Scorpio Tankers in the fourth quarter worth approximately $740,000. Twin Focus Capital Partners LLC bought a new stake in shares of Scorpio Tankers in the 4th quarter valued at $5,115,000. Bluefin Capital Management LLC bought a new stake in shares of Scorpio Tankers in the 4th quarter valued at $1,003,000. Clear Street Markets LLC acquired a new stake in shares of Scorpio Tankers during the fourth quarter worth $2,985,000. Finally, Epoch Investment Partners Inc. raised its stake in Scorpio Tankers by 0.7% during the fourth quarter. Epoch Investment Partners Inc. now owns 22,685 shares of the shipping company’s stock worth $1,379,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Analyst Upgrades and Downgrades

STNG has been the topic of a number of research analyst reports. StockNews.com raised shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Bank of America lifted their target price on Scorpio Tankers from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Tuesday, June 18th. Finally, Jefferies Financial Group restated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Scorpio Tankers presently has a consensus rating of “Moderate Buy” and an average price target of $80.67.

Scorpio Tankers Stock Up 2.0 %

Shares of NYSE:STNG opened at $82.10 on Monday. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 1.09 and a beta of 0.20. Scorpio Tankers Inc. has a one year low of $40.34 and a one year high of $83.33. The firm has a fifty day moving average price of $77.04 and a two-hundred day moving average price of $70.23. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.60 and a quick ratio of 1.58.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Thursday, May 9th. The shipping company reported $3.97 EPS for the quarter, topping the consensus estimate of $3.72 by $0.25. The firm had revenue of $389.76 million for the quarter, compared to the consensus estimate of $381.46 million. Scorpio Tankers had a net margin of 42.12% and a return on equity of 22.84%. Analysts anticipate that Scorpio Tankers Inc. will post 12.18 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 1.95%. Scorpio Tankers’s payout ratio is 14.84%.

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.