Dynamic Technology Lab Private Ltd Takes Position in Scorpio Tankers Inc. (NYSE:STNG)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG) during the fourth quarter, Holdings Channel reports. The firm acquired 5,528 shares of the shipping company’s stock, valued at approximately $275,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Scorpio Tankers during the 3rd quarter valued at $332,000. HighTower Advisors LLC boosted its stake in Scorpio Tankers by 38.1% during the third quarter. HighTower Advisors LLC now owns 12,041 shares of the shipping company’s stock valued at $857,000 after buying an additional 3,322 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in Scorpio Tankers during the third quarter worth about $552,000. MML Investors Services LLC bought a new stake in Scorpio Tankers in the third quarter worth about $203,000. Finally, Y Intercept Hong Kong Ltd raised its position in Scorpio Tankers by 50.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 19,397 shares of the shipping company’s stock worth $1,383,000 after acquiring an additional 6,473 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on STNG shares. Jefferies Financial Group restated 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 reduced their target price 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 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, the stock has a consensus rating of “Hold” and an average target price of $68.75.

Scorpio Tankers Price Performance

NYSE STNG opened at $33.34 on Friday. 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 1 year low of $30.63 and a 1 year high of $84.67. The company has a market cap of $1.66 billion, a PE ratio of 2.56 and a beta of -0.01. The stock’s 50-day moving average price is $40.39 and its two-hundred day moving average price is $50.47.

Scorpio Tankers (NYSE:STNG) last released its quarterly 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 net margin of 53.76% and a return on equity of 18.01%. On average, analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.40 dividend. 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 4.80%. 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.