EMC Capital Management Buys New Stake in Scorpio Tankers Inc. (NYSE:STNG)

EMC Capital Management bought a new stake in Scorpio Tankers Inc. (NYSE:STNG) during the first quarter, HoldingsChannel reports. The institutional investor bought 2,717 shares of the shipping company’s stock, valued at approximately $194,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STNG. U S Global Investors Inc. lifted its stake in shares of Scorpio Tankers by 14.5% during 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. International Assets Investment Management LLC lifted its stake in shares of Scorpio Tankers by 4,706.2% during the 4th quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock worth $59,025,000 after purchasing an additional 950,600 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of Scorpio Tankers by 5.8% during the 4th quarter. Bleakley Financial Group LLC now owns 8,191 shares of the shipping company’s stock worth $498,000 after purchasing an additional 446 shares during the period. Moody Aldrich Partners LLC lifted its stake in shares of Scorpio Tankers by 34.6% during the 4th quarter. Moody Aldrich Partners LLC now owns 123,187 shares of the shipping company’s stock worth $7,490,000 after purchasing an additional 31,649 shares during the period. Finally, Quaero Capital S.A. purchased a new position in shares of Scorpio Tankers during the 4th quarter worth $608,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 3.1 %

NYSE STNG traded down $2.33 during trading hours on Friday, hitting $74.16. The company had a trading volume of 1,374,161 shares, compared to its average volume of 978,093. Scorpio Tankers Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $84.67. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 6.86, a P/E/G ratio of 1.34 and a beta of 0.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.60 and a quick ratio of 1.58. The firm’s 50 day moving average is $79.06 and its 200 day moving average is $73.59.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a return on equity of 24.62% and a net margin of 47.36%. The firm had revenue of $380.70 million during the quarter, compared to the consensus estimate of $368.62 million. During the same period in the prior year, the firm earned $2.41 EPS. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. Sell-side analysts anticipate that Scorpio Tankers Inc. will post 13.11 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 15th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. Scorpio Tankers’s payout ratio is currently 14.84%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on STNG shares. Bank of America dropped their price objective on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Jefferies Financial Group restated a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a report on Tuesday. Stifel Nicolaus upped their price objective on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Evercore ISI upped their price objective on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.17.

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.