EverSource Wealth Advisors LLC Has $49,000 Stake in Scorpio Tankers Inc. (NYSE:STNG)

EverSource Wealth Advisors LLC boosted its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 850.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 979 shares of the shipping company’s stock after purchasing an additional 876 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Scorpio Tankers were worth $49,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Assenagon Asset Management S.A. increased its holdings in Scorpio Tankers by 882.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock valued at $10,020,000 after buying an additional 181,135 shares during the period. Public Employees Retirement System of Ohio bought a new position in Scorpio Tankers in the 3rd quarter valued at about $8,459,000. Mountaineer Partners Management LLC increased its holdings in Scorpio Tankers by 6,926.8% in 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 buying an additional 8,252,691 shares during the period. Geode Capital Management LLC increased its holdings in Scorpio Tankers by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock valued at $54,768,000 after buying an additional 38,599 shares during the period. Finally, Barclays PLC increased its holdings in Scorpio Tankers by 873.6% in the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after buying an additional 168,866 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Trading Up 1.8 %

Shares of Scorpio Tankers stock opened at $41.51 on Thursday. The firm has a market capitalization of $2.10 billion, a PE ratio of 3.18 and a beta of 0.01. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $45.42 and its 200 day moving average is $54.38. Scorpio Tankers Inc. has a 1 year low of $37.14 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 the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. Equities research analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s payout ratio is 12.27%.

Wall Street Analysts Forecast Growth

STNG has been the topic of several recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a report on Thursday, February 13th. Stifel Nicolaus decreased their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $68.75.

Scorpio Tankers 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.