LGT Fund Management Co Ltd. Takes $2.45 Million Position in Scorpio Tankers Inc. (NYSE:STNG)

LGT Fund Management Co Ltd. purchased a new stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 49,262 shares of the shipping company's stock, valued at approximately $2,448,000. LGT Fund Management Co Ltd. owned approximately 0.10% of Scorpio Tankers at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STNG. Harbor Capital Advisors Inc. purchased a new stake in shares of Scorpio Tankers in the 3rd quarter worth about $28,000. 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. AM Squared Ltd acquired a new stake in shares of Scorpio Tankers in the third quarter valued at approximately $64,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Scorpio Tankers during the 3rd quarter worth approximately $68,000. Finally, Quarry LP raised its position in shares of Scorpio Tankers by 103.5% during the 3rd quarter. Quarry LP now owns 1,349 shares of the shipping company's stock worth $96,000 after purchasing an additional 686 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Stifel Nicolaus reduced their price objective on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research report on Friday, February 14th. Jefferies Financial Group restated a "buy" rating and issued a $75.00 target price on shares of Scorpio Tankers in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $68.75.

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Scorpio Tankers Trading Up 1.6 %

Shares of STNG stock traded up $0.64 during trading hours on Thursday, hitting $39.90. 932,815 shares of the company were exchanged, compared to its average volume of 1,059,807. The firm has a fifty day moving average of $47.49 and a 200 day moving average of $56.59. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25. Scorpio Tankers Inc. has a 1 year low of $38.03 and a 1 year high of $84.67. The firm has a market cap of $2.02 billion, a PE ratio of 3.06 and a beta of 0.01.

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

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Friday, March 7th. Scorpio Tankers's payout ratio is currently 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.