Y Intercept Hong Kong Ltd Increases Position in Scorpio Tankers Inc. (NYSE:STNG)

Y Intercept Hong Kong Ltd increased its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 40.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,190 shares of the shipping company’s stock after purchasing an additional 7,793 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Scorpio Tankers were worth $1,351,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in 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 buying an additional 4,564 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Scorpio Tankers by 51.9% in the third quarter. Assenagon Asset Management S.A. now owns 20,518 shares of the shipping company’s stock worth $1,463,000 after acquiring an additional 7,010 shares during the period. Measured Wealth Private Client Group LLC boosted its stake in shares of Scorpio Tankers by 4.0% in the third quarter. Measured Wealth Private Client Group LLC now owns 12,541 shares of the shipping company’s stock worth $894,000 after acquiring an additional 484 shares during the period. Ceredex Value Advisors LLC purchased a new stake in shares of Scorpio Tankers during the third quarter worth about $7,479,000. Finally, Harbor Capital Advisors Inc. bought a new stake in Scorpio Tankers during the 3rd quarter valued at approximately $28,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 1.0 %

Shares of STNG opened at $40.76 on Thursday. The business’s 50 day simple moving average is $48.42 and its 200-day simple moving average is $57.79. Scorpio Tankers Inc. has a 1 year low of $40.47 and a 1 year high of $84.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 3.13 and a beta of 0.08.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results 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%. As a group, equities analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

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

Analyst Upgrades and Downgrades

STNG has been the subject of several recent analyst reports. Evercore ISI dropped their price target on 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 dropped 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 reiterated a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Scorpio Tankers currently has a consensus rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Company 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.