Cibc World Markets Corp Buys Shares of 4,170 Scorpio Tankers Inc. (NYSE:STNG)

Cibc World Markets Corp purchased a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,170 shares of the shipping company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. U S Global Investors Inc. grew its holdings in shares of Scorpio Tankers by 4.4% in the fourth quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company’s stock valued at $253,000 after purchasing an additional 215 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after acquiring an additional 263 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock worth $46,000 after acquiring an additional 266 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after acquiring an additional 402 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Scorpio Tankers by 0.7% in the fourth quarter. Rhumbline Advisers now owns 76,004 shares of the shipping company’s stock valued at $3,777,000 after acquiring an additional 559 shares in the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on STNG. Jefferies Financial Group reissued a “buy” rating and set a $75.00 target price on shares of Scorpio Tankers in a research note on Thursday, February 13th. Stifel Nicolaus lowered their price objective on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Stock Up 0.4 %

Scorpio Tankers stock opened at $39.29 on Thursday. The stock’s fifty day moving average is $43.88 and its two-hundred day moving average is $53.38. The stock has a market cap of $1.99 billion, a PE ratio of 3.01 and a beta of 0.01. Scorpio Tankers Inc. has a 1-year low of $37.14 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.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. On average, sell-side analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.07%. Scorpio Tankers’s dividend payout ratio is currently 12.27%.

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.