Ieq Capital LLC Buys Shares of 13,734 Scorpio Tankers Inc. (NYSE:STNG)

Ieq Capital LLC acquired a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 13,734 shares of the shipping company's stock, valued at approximately $682,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Scorpio Tankers in the 3rd quarter valued at $28,000. GAMMA Investing LLC lifted its stake in shares of Scorpio Tankers by 204.1% in the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock valued at $30,000 after purchasing an additional 402 shares during the period. AM Squared Ltd acquired a new position in shares of Scorpio Tankers in the 3rd quarter valued at $64,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Scorpio Tankers in the 3rd quarter valued at $68,000. Finally, Quarry LP lifted its stake in shares of Scorpio Tankers by 103.5% in the 3rd quarter. Quarry LP now owns 1,349 shares of the shipping company's stock valued at $96,000 after purchasing an additional 686 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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Scorpio Tankers Price Performance

NYSE STNG traded up $0.38 on Friday, hitting $39.81. The company had a trading volume of 1,329,330 shares, compared to its average volume of 1,050,096. The company has a market capitalization of $2.01 billion, a PE ratio of 3.05 and a beta of 0.08. The company's fifty day moving average price is $48.11 and its 200-day moving average price is $57.42. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. Scorpio Tankers Inc. has a 12-month low of $38.55 and a 12-month high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (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%. As a group, analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders 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 4.02%. The ex-dividend date is Friday, March 7th. Scorpio Tankers's payout ratio is 12.27%.

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.