Sherbrooke Park Advisers LLC Buys 889 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Sherbrooke Park Advisers LLC lifted its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 28.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,035 shares of the shipping company’s stock after purchasing an additional 889 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Scorpio Tankers were worth $200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STNG. Dimensional Fund Advisors LP boosted its holdings in Scorpio Tankers by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company’s stock valued at $174,512,000 after acquiring an additional 10,854 shares during the period. FMR LLC increased its position in Scorpio Tankers by 266.2% during the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock valued at $129,870,000 after buying an additional 1,899,981 shares in the last quarter. Vanguard Group Inc. increased its position in Scorpio Tankers by 22.3% during the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock valued at $124,786,000 after buying an additional 458,120 shares in the last quarter. Cooper Creek Partners Management LLC boosted its stake in Scorpio Tankers by 380.0% during the 4th quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company’s stock valued at $109,098,000 after purchasing an additional 1,738,190 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Scorpio Tankers by 10.9% during the 4th quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company’s stock valued at $77,437,000 after purchasing an additional 153,267 shares during the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STNG has been the topic of a number of research reports. Fearnley Fonds upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Evercore ISI reduced their target price on Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of Scorpio Tankers in a report on Thursday, May 1st. Finally, Stifel Nicolaus dropped their price target on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock opened at $41.61 on Wednesday. The business has a 50 day simple moving average of $37.89 and a two-hundred day simple moving average of $44.85. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $84.67. The stock has a market capitalization of $2.12 billion, a P/E ratio of 3.19 and a beta of -0.12. 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 (NYSE:STNG) last issued its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.32. The company had revenue of $204.20 million during the quarter, compared to analyst estimates of $205.89 million. Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. The firm’s revenue for the quarter was down 45.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.97 earnings per share. As a group, analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.85%. The ex-dividend date is Friday, May 30th. Scorpio Tankers’s payout ratio is 15.76%.

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.