11,248 Shares in Scorpio Tankers Inc. (NYSE:STNG) Bought by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,248 shares of the shipping company's stock, valued at approximately $559,000.

Other hedge funds have also modified their holdings of the company. U S Global Investors Inc. raised its holdings in shares of Scorpio Tankers by 4.4% during the fourth quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company's stock valued at $253,000 after acquiring an additional 215 shares during the period. Lindbrook Capital LLC grew its position in Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock worth $30,000 after purchasing an additional 263 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Scorpio Tankers by 40.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock valued at $46,000 after purchasing an additional 266 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock valued at $30,000 after purchasing an additional 402 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings 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 purchasing an additional 559 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Jefferies Financial Group reissued a "buy" rating and set a $75.00 price target on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus dropped their target price on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $68.75.

Scorpio Tankers Stock Up 7.2 %

Shares of NYSE:STNG traded up $2.39 during midday trading on Friday, hitting $35.68. 910,402 shares of the stock were exchanged, compared to its average volume of 883,806. The company has a market capitalization of $1.78 billion, a PE ratio of 2.74 and a beta of -0.01. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $84.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The business's fifty day simple moving average is $40.10 and its two-hundred day simple moving average is $50.24.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.48%. The ex-dividend date was Friday, March 7th. Scorpio Tankers's dividend payout ratio is 12.27%.

Scorpio Tankers 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.