Lindbrook Capital LLC Has $30,000 Stake in Scorpio Tankers Inc. (NYSE:STNG)

Lindbrook Capital LLC raised its position in Scorpio Tankers Inc. (NYSE:STNG) by 75.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 610 shares of the shipping company’s stock after purchasing an additional 263 shares during the period. Lindbrook Capital LLC’s holdings in Scorpio Tankers were worth $30,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Scorpio Tankers in the 3rd quarter worth approximately $28,000. GAMMA Investing LLC increased its stake in shares of Scorpio Tankers by 204.1% in the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 402 shares in the last quarter. AM Squared Ltd bought a new stake in shares of Scorpio Tankers in the 3rd quarter valued at $64,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Scorpio Tankers in the 3rd quarter valued at $68,000. Finally, Quarry LP increased its stake in shares of Scorpio Tankers by 103.5% in the 3rd quarter. Quarry LP now owns 1,349 shares of the shipping company’s stock valued at $96,000 after acquiring an additional 686 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Wall Street Analyst Weigh In

STNG has been the subject of several research analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday, February 13th. Stifel Nicolaus lowered their price objective on shares of 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 stock. According to data from MarketBeat, Scorpio Tankers has an average rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $39.74 on Friday. The firm has a market capitalization of $2.01 billion, a PE ratio of 3.05 and a beta of 0.01. The firm has a fifty day simple moving average of $47.11 and a two-hundred day simple moving average of $56.14. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. Scorpio Tankers Inc. has a 12 month low of $38.03 and a 12 month high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 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%. Analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.03%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 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.