Measured Wealth Private Client Group LLC lowered its position in Scorpio Tankers Inc. (NYSE:STNG – Free Report) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,436 shares of the shipping company’s stock after selling 264 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Scorpio Tankers were worth $695,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Neo Ivy Capital Management purchased a new stake in Scorpio Tankers in the third quarter valued at about $27,000. CWM LLC raised its position in shares of Scorpio Tankers by 1,037.0% in the 3rd quarter. CWM LLC now owns 523 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 477 shares during the last quarter. Headinvest LLC acquired a new stake in Scorpio Tankers in the 3rd quarter worth approximately $51,000. Sunbelt Securities Inc. purchased a new stake in Scorpio Tankers during the 3rd quarter worth approximately $54,000. Finally, U S Global Investors Inc. increased its stake in 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 valued at $106,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.
Scorpio Tankers Price Performance
Shares of NYSE STNG traded up $0.90 during mid-day trading on Friday, reaching $72.40. The company’s stock had a trading volume of 486,310 shares, compared to its average volume of 675,385. The stock has a market capitalization of $3.85 billion, a P/E ratio of 7.29, a P/E/G ratio of 1.23 and a beta of 0.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.13. Scorpio Tankers Inc. has a 1-year low of $40.34 and a 1-year high of $74.04. The stock has a 50-day moving average of $70.42 and a two-hundred day moving average of $64.33.
Scorpio Tankers Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were given a $0.40 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.35. Scorpio Tankers’s dividend payout ratio is presently 16.10%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on STNG shares. Evercore ISI lifted their price objective on shares of Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Wednesday, February 14th. JPMorgan Chase & Co. increased their price objective on Scorpio Tankers from $85.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Finally, StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Scorpio Tankers presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.
View Our Latest Stock Analysis on STNG
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.
Further Reading
- Five stocks we like better than Scorpio Tankers
- What is a Dividend King?
- MarketBeat Week in Review – 4/29 – 5/3
- Stock Trading Terms – Stock Terms Every Investor Needs to Know
- Apple’s Earnings Show Investors Its Strength and Its Weakness
- What is the FTSE 100 index?
- Bargain Alert: 3 Large Caps With Extremely Oversold RSIs
Want to see what other hedge funds are holding STNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scorpio Tankers Inc. (NYSE:STNG – Free Report).
Receive News & Ratings for Scorpio Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scorpio Tankers and related companies with MarketBeat.com's FREE daily email newsletter.