Cooper Creek Partners Management LLC Boosts Position in Scorpio Tankers Inc. (NYSE:STNG)

Cooper Creek Partners Management LLC lifted its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 380.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,195,563 shares of the shipping company's stock after acquiring an additional 1,738,190 shares during the period. Scorpio Tankers accounts for about 3.4% of Cooper Creek Partners Management LLC's investment portfolio, making the stock its 8th largest position. Cooper Creek Partners Management LLC owned approximately 4.35% of Scorpio Tankers worth $109,098,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in STNG. U S Global Investors Inc. boosted its stake in Scorpio Tankers by 4.4% during the 4th 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 during the period. Lindbrook Capital LLC boosted its holdings in Scorpio Tankers by 75.8% in the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after purchasing an additional 263 shares during the period. PNC Financial Services Group Inc. grew its position in Scorpio Tankers by 40.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after purchasing an additional 266 shares during the last quarter. GAMMA Investing LLC lifted its stake 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 buying an additional 402 shares during the period. Finally, Rhumbline Advisers grew its position in Scorpio Tankers by 0.7% during the fourth quarter. Rhumbline Advisers now owns 76,004 shares of the shipping company's stock worth $3,777,000 after buying an additional 559 shares in the last quarter. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock traded up $1.17 during mid-day trading on Friday, reaching $35.30. 481,932 shares of the stock were exchanged, compared to its average volume of 884,592. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 2.71 and a beta of -0.01. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $84.67. The firm has a 50-day simple moving average of $38.99 and a 200 day simple moving average of $49.36.

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

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date was Friday, March 7th. Scorpio Tankers's dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

STNG has been the subject of a number of research reports. Jefferies Financial Group reiterated a "buy" rating and issued a $75.00 price objective on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus lowered their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $68.75.

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.