Ieq Capital LLC Makes New Investment in Scorpio Tankers Inc. (NYSE:STNG)

Ieq Capital LLC acquired a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,734 shares of the shipping company’s stock, valued at approximately $682,000.

Other institutional investors have also modified their holdings of the company. Mountaineer Partners Management LLC increased its position in shares of Scorpio Tankers by 6,926.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after purchasing an additional 8,252,691 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Scorpio Tankers by 882.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock valued at $10,020,000 after acquiring an additional 181,135 shares during the last quarter. Barclays PLC raised its stake in shares of Scorpio Tankers by 873.6% in the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after acquiring an additional 168,866 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Scorpio Tankers in the third quarter valued at $8,459,000. Finally, Empowered Funds LLC bought a new stake in shares of Scorpio Tankers in the 4th quarter worth about $5,621,000. 54.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on STNG shares. Evercore ISI cut their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 target price on shares of Scorpio Tankers in a research note on Thursday, February 13th. Finally, Stifel Nicolaus decreased their price target on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $68.75.

Scorpio Tankers Price Performance

Scorpio Tankers stock opened at $41.19 on Wednesday. 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 market cap of $2.08 billion, a price-to-earnings ratio of 3.16 and a beta of 0.08. The firm has a 50-day moving average of $48.56 and a two-hundred day moving average of $57.91. Scorpio Tankers Inc. has a 1 year low of $40.73 and a 1 year high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced 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, research analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s payout ratio is 12.27%.

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.