F M Investments LLC Takes $2.01 Million Position in Scorpio Tankers Inc. (NYSE:STNG)

F M Investments LLC purchased a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 33,000 shares of the shipping company’s stock, valued at approximately $2,006,000. Scorpio Tankers accounts for about 1.1% of F M Investments LLC’s investment portfolio, making the stock its 27th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Scorpio Tankers by 94.4% during the third quarter. FMR LLC now owns 2,334,754 shares of the shipping company’s stock valued at $126,357,000 after acquiring an additional 1,133,900 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Scorpio Tankers by 4,706.2% in the fourth quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock worth $59,025,000 after acquiring an additional 950,600 shares during the last quarter. Packer & Co Ltd purchased a new stake in shares of Scorpio Tankers during the third quarter worth approximately $25,599,000. DNB Asset Management AS raised its stake in Scorpio Tankers by 167.0% in the 4th quarter. DNB Asset Management AS now owns 254,839 shares of the shipping company’s stock valued at $15,494,000 after purchasing an additional 159,393 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Scorpio Tankers by 30.0% in the 3rd quarter. American Century Companies Inc. now owns 400,833 shares of the shipping company’s stock valued at $21,693,000 after purchasing an additional 92,561 shares in the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Scorpio Tankers Trading Up 1.1 %

Shares of STNG traded up $0.78 during mid-day trading on Tuesday, reaching $70.62. The stock had a trading volume of 423,294 shares, compared to its average volume of 1,161,340. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.13 and a quick ratio of 1.12. The business’s fifty day moving average is $69.76 and its 200 day moving average is $63.37. Scorpio Tankers Inc. has a 52-week low of $40.34 and a 52-week high of $74.04. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 7.13 and a beta of 0.21.

Scorpio Tankers (NYSE:STNG) last posted 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. The business had revenue of $336.30 million during the quarter, compared to analysts’ expectations of $335.70 million. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The business’s revenue for the quarter was down 31.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.24 EPS. On average, sell-side analysts predict that Scorpio Tankers Inc. will post 12.15 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The firm 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 of this dividend was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.27%. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.35. Scorpio Tankers’s payout ratio is currently 16.10%.

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.