13,757 Shares in Scorpio Tankers Inc. (NYSE:STNG) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,757 shares of the shipping company's stock, valued at approximately $684,000.

Several other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after buying an additional 402 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Scorpio Tankers in the third quarter valued at about $68,000. Quarry LP raised its stake in Scorpio Tankers by 103.5% during the third quarter. Quarry LP now owns 1,349 shares of the shipping company's stock worth $96,000 after acquiring an additional 686 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Scorpio Tankers in the fourth quarter worth about $99,000. Finally, EMC Capital Management boosted its stake 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. 54.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Scorpio Tankers Trading Up 7.2 %

STNG traded up $2.39 during trading on Friday, reaching $35.68. 910,402 shares of the company's stock were exchanged, compared to its average volume of 883,805. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $84.67. The firm has a fifty day moving average price of $40.10 and a two-hundred day moving average price of $50.24. The stock has a market capitalization of $1.78 billion, a PE ratio of 2.74 and a beta of -0.01.

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

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.48%. Scorpio Tankers's dividend payout ratio (DPR) 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.