Fox Run Management L.L.C. Makes New Investment in Scorpio Tankers Inc. (NYSE:STNG)

Fox Run Management L.L.C. bought a new position in Scorpio Tankers Inc. (NYSE:STNG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 18,800 shares of the shipping company’s stock, valued at approximately $934,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of Scorpio Tankers by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 41,416 shares of the shipping company’s stock worth $2,953,000 after purchasing an additional 992 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in shares of Scorpio Tankers by 2.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock worth $863,000 after purchasing an additional 252 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Scorpio Tankers by 212.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,023 shares of the shipping company’s stock worth $144,000 after purchasing an additional 1,375 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Scorpio Tankers during the 3rd quarter worth about $1,339,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Scorpio Tankers by 7.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 35,936 shares of the shipping company’s stock worth $2,562,000 after purchasing an additional 2,467 shares during the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on STNG. Stifel Nicolaus cut their price objective 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. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.75.

Scorpio Tankers Stock Performance

NYSE STNG opened at $39.71 on Friday. The company has a market cap of $2.01 billion, a P/E ratio of 3.05 and a beta of 0.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The stock has a 50-day moving average of $44.91 and a two-hundred day moving average of $53.98. Scorpio Tankers Inc. has a 1-year low of $37.14 and a 1-year high of $84.67.

Scorpio Tankers (NYSE:STNG) last released its earnings results 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 net margin of 53.76% and a return on equity of 18.01%. As a group, analysts anticipate 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. Investors of record on Friday, March 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Friday, March 7th. Scorpio Tankers’s payout ratio 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.