WealthTrust Axiom LLC Has $1.01 Million Stake in Scorpio Tankers Inc. (NYSE:STNG)

WealthTrust Axiom LLC increased its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 6.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 16,545 shares of the shipping company’s stock after acquiring an additional 1,045 shares during the period. WealthTrust Axiom LLC’s holdings in Scorpio Tankers were worth $1,006,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Truist Financial Corp acquired a new stake in Scorpio Tankers in the 4th quarter valued at approximately $514,000. Bfsg LLC acquired a new stake in Scorpio Tankers in the 4th quarter valued at approximately $114,000. Glenorchy Capital Ltd acquired a new stake in Scorpio Tankers in the 4th quarter valued at approximately $2,623,000. F M Investments LLC bought a new stake in shares of Scorpio Tankers in the 4th quarter worth approximately $2,006,000. Finally, New York State Common Retirement Fund lifted its position in shares of Scorpio Tankers by 2.1% in the 4th quarter. New York State Common Retirement Fund now owns 20,215 shares of the shipping company’s stock worth $1,229,000 after acquiring an additional 414 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

Analyst Upgrades and Downgrades

STNG has been the subject of several analyst reports. Evercore ISI raised their target price on Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Jefferies Financial Group restated a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research report on Wednesday, February 14th. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. raised their target price on Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.00.

Scorpio Tankers Trading Down 2.3 %

NYSE:STNG traded down $1.68 on Tuesday, reaching $70.57. The company’s stock had a trading volume of 397,269 shares, compared to its average volume of 1,123,606. Scorpio Tankers Inc. has a 1-year low of $40.34 and a 1-year high of $74.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.13. The firm has a market cap of $3.75 billion, a PE ratio of 7.10, a PEG ratio of 1.25 and a beta of 0.21. The business’s 50-day moving average price is $70.07 and its two-hundred day moving average price is $64.02.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.13. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. The company had revenue of $336.30 million for the quarter, compared to analyst estimates of $335.70 million. During the same period in the previous year, the company posted $4.24 earnings per share. The company’s quarterly revenue was down 31.9% compared to the same quarter last year. Equities research analysts anticipate that Scorpio Tankers Inc. will post 12.54 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.35. Scorpio Tankers’s payout ratio is 16.10%.

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.