Empowered Funds LLC Acquires New Shares in Scorpio Tankers Inc. (NYSE:STNG)

Empowered Funds LLC acquired a new stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 113,129 shares of the shipping company's stock, valued at approximately $5,621,000. Empowered Funds LLC owned 0.22% of Scorpio Tankers as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bleakley Financial Group LLC lifted its stake in Scorpio Tankers by 218.5% in the fourth quarter. Bleakley Financial Group LLC now owns 26,250 shares of the shipping company's stock worth $1,304,000 after acquiring an additional 18,007 shares during the last quarter. EMC Capital Management raised its holdings in shares of Scorpio Tankers by 61.5% in the 4th quarter. EMC Capital Management now owns 2,717 shares of the shipping company's stock valued at $135,000 after purchasing an additional 1,035 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Scorpio Tankers by 102.3% during the 4th quarter. Blue Trust Inc. now owns 6,631 shares of the shipping company's stock worth $329,000 after purchasing an additional 3,354 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Scorpio Tankers during the fourth quarter worth $303,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Scorpio Tankers during the fourth quarter worth $249,000. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Stock Performance

Shares of NYSE STNG traded down $0.53 during trading hours on Friday, reaching $44.13. The stock had a trading volume of 1,147,005 shares, compared to its average volume of 1,023,026. The firm has a 50-day moving average of $49.33 and a 200-day moving average of $59.59. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 3.16 and a beta of 0.08. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. Scorpio Tankers Inc. has a fifty-two week low of $43.32 and a fifty-two week high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its 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 net margin of 52.40% and a return on equity of 22.56%. Equities research analysts predict that Scorpio Tankers Inc. will post 9.88 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, March 7th. Scorpio Tankers's dividend payout ratio is currently 11.47%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on STNG shares. Bank of America cut their price target on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 22nd. Stifel Nicolaus cut their target price on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research report on Friday. Evercore ISI lowered their price target on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $75.00 price objective on shares of Scorpio Tankers in a report on Thursday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Scorpio Tankers has an average rating of "Hold" and an average target price of $68.75.

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.