GAMMA Investing LLC Has $30,000 Holdings in Scorpio Tankers Inc. (NYSE:STNG)

GAMMA Investing LLC raised its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 204.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 599 shares of the shipping company’s stock after purchasing an additional 402 shares during the period. GAMMA Investing LLC’s holdings in Scorpio Tankers were worth $30,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Truist Financial Corp grew its holdings in Scorpio Tankers by 1.4% during the second quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock worth $889,000 after buying an additional 149 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after acquiring an additional 177 shares during the last quarter. Quarry LP raised its holdings in shares of Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 229 shares during the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of Scorpio Tankers by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock valued at $863,000 after purchasing an additional 252 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 291 shares in the last quarter. 54.64% of the stock is owned by institutional investors.

Scorpio Tankers Stock Down 0.2 %

STNG stock opened at $56.48 on Wednesday. Scorpio Tankers Inc. has a 1-year low of $45.94 and a 1-year high of $84.67. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 4.05 and a beta of 0.12. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $51.21 and its 200 day moving average is $64.09.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. The company had revenue of $267.99 million during the quarter, compared to the consensus estimate of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 EPS. Sell-side analysts predict that Scorpio Tankers Inc. will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is currently 11.47%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America dropped their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price target for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Jefferies Financial Group cut their price objective on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Evercore ISI decreased their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $75.40.

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.