GAMMA Investing LLC Purchases 402 Shares of Scorpio Tankers Inc. (NYSE:STNG)

GAMMA Investing LLC grew its position in Scorpio Tankers Inc. (NYSE:STNG) by 204.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 599 shares of the shipping company’s stock after acquiring an additional 402 shares during the period. GAMMA Investing LLC’s holdings in Scorpio Tankers were worth $30,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after buying an additional 291 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Scorpio Tankers in the 3rd quarter valued at about $28,000. Quarry LP lifted its position in Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after acquiring an additional 229 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of Scorpio Tankers by 34.2% during the second 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 period. Finally, AM Squared Ltd acquired a new position in shares of Scorpio Tankers in the third quarter valued at approximately $64,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Scorpio Tankers Stock Down 0.2 %

Shares of STNG opened at $56.48 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. Scorpio Tankers Inc. has a 52 week low of $45.94 and a 52 week high of $84.67. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 4.05 and a beta of 0.12. The stock has a fifty day moving average of $51.21 and a 200-day moving average of $64.09.

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

Scorpio Tankers Announces Dividend

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

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.