Simplicity Solutions LLC Increases Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Simplicity Solutions LLC lifted its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,191 shares of the shipping company’s stock after buying an additional 446 shares during the period. Simplicity Solutions LLC’s holdings in Scorpio Tankers were worth $498,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. U S Global Investors Inc. increased its stake in Scorpio Tankers by 14.5% in the 4th quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock worth $106,000 after purchasing an additional 220 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Scorpio Tankers by 1.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 14,972 shares of the shipping company’s stock worth $707,000 after purchasing an additional 230 shares during the period. Meeder Asset Management Inc. increased its stake in Scorpio Tankers by 35.2% in the 1st quarter. Meeder Asset Management Inc. now owns 964 shares of the shipping company’s stock worth $54,000 after purchasing an additional 251 shares during the period. Raymond James & Associates increased its stake in Scorpio Tankers by 5.6% in the 3rd quarter. Raymond James & Associates now owns 6,203 shares of the shipping company’s stock worth $336,000 after purchasing an additional 331 shares during the period. Finally, WINTON GROUP Ltd increased its stake in Scorpio Tankers by 4.5% in the 1st quarter. WINTON GROUP Ltd now owns 8,272 shares of the shipping company’s stock worth $466,000 after purchasing an additional 356 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Trading Down 3.3 %

NYSE STNG opened at $68.46 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.37. Scorpio Tankers Inc. has a twelve month low of $40.34 and a twelve month high of $74.04. The firm has a market capitalization of $3.64 billion, a PE ratio of 6.89 and a beta of 0.21. The stock’s 50 day moving average is $69.65 and its 200 day moving average is $62.93.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.13. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. The company had revenue of $336.30 million for the quarter, compared to analyst estimates of $335.70 million. During the same period in the previous year, the company posted $4.24 earnings per share. The firm’s revenue was down 31.9% on a year-over-year basis. Research analysts forecast that Scorpio Tankers Inc. will post 12.15 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 8th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, March 7th. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.34%. Scorpio Tankers’s payout ratio is currently 16.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on STNG shares. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research report on Wednesday, February 14th. Evercore ISI lifted their price objective on Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.00.

About Scorpio Tankers

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.