Quadrature Capital Ltd Acquires 4,816 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Quadrature Capital Ltd grew its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 39.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,983 shares of the shipping company’s stock after purchasing an additional 4,816 shares during the quarter. Quadrature Capital Ltd’s holdings in Scorpio Tankers were worth $1,215,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STNG. Global Retirement Partners LLC raised its stake in Scorpio Tankers by 8,800.0% in the first quarter. Global Retirement Partners LLC now owns 534 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 528 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in Scorpio Tankers in the first quarter valued at approximately $58,000. U S Global Investors Inc. raised its stake in Scorpio Tankers by 14.5% in the fourth quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock valued at $106,000 after purchasing an additional 220 shares in the last quarter. Bfsg LLC purchased a new position in shares of Scorpio Tankers during the fourth quarter worth approximately $114,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Scorpio Tankers during the fourth quarter worth approximately $217,000. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

Shares of STNG stock traded down $0.77 during trading hours on Friday, reaching $72.69. 547,162 shares of the company traded hands, compared to its average volume of 815,518. The firm has a 50-day moving average price of $79.52 and a 200 day moving average price of $73.31. The company has a market cap of $3.97 billion, a P/E ratio of 6.74, a P/E/G ratio of 1.12 and a beta of 0.16. Scorpio Tankers Inc. has a 12-month low of $42.92 and a 12-month high of $84.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.60 and a quick ratio of 1.58.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.72 by $0.25. The firm had revenue of $389.76 million during the quarter, compared to analysts’ expectations of $381.46 million. Scorpio Tankers had a net margin of 42.12% and a return on equity of 22.84%. As a group, sell-side analysts predict that Scorpio Tankers Inc. will post 13.09 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.40 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 2.20%. Scorpio Tankers’s payout ratio is 14.84%.

Analyst Ratings Changes

Several research firms have commented on STNG. Jefferies Financial Group reissued a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 9th. Evercore ISI lifted their price target on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. StockNews.com raised shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Stifel Nicolaus lifted their target price on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Bank of America decreased their target price on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Scorpio Tankers presently has an average rating of “Moderate Buy” and an average target price of $84.17.

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.