Savant Capital LLC Invests $346,000 in Scorpio Tankers Inc. (NYSE:STNG)

Savant Capital LLC bought a new position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,964 shares of the shipping company's stock, valued at approximately $346,000.

A number of other hedge funds also recently modified their holdings of the stock. Harbor Capital Advisors Inc. acquired a new stake in Scorpio Tankers in the 3rd quarter worth about $28,000. GAMMA Investing LLC raised its stake in Scorpio Tankers by 204.1% in the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after purchasing an additional 402 shares in the last quarter. AM Squared Ltd acquired a new stake in Scorpio Tankers in the 3rd quarter worth about $64,000. Wilmington Savings Fund Society FSB acquired a new stake in Scorpio Tankers in the 3rd quarter worth about $68,000. Finally, Quarry LP raised its stake in Scorpio Tankers by 103.5% in 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 in the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on STNG. Jefferies Financial Group reiterated a "buy" rating and issued a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday, February 13th. Stifel Nicolaus decreased their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Finally, Evercore ISI decreased their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $68.75.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock traded down $1.23 during midday trading on Friday, hitting $41.19. 751,258 shares of the company traded hands, compared to its average volume of 1,047,034. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 3.16 and a beta of 0.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The firm's fifty day moving average price is $48.79 and its 200-day moving average price is $58.59. Scorpio Tankers Inc. has a 12 month low of $41.07 and a 12 month high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its 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%. As a group, sell-side analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.88%. Scorpio Tankers's dividend payout ratio (DPR) 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.