Marshall Wace LLP Invests $11.19 Million in Scorpio Tankers Inc. (NYSE:STNG)

Marshall Wace LLP purchased a new stake in Scorpio Tankers Inc. (NYSE:STNG) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 225,204 shares of the shipping company’s stock, valued at approximately $11,190,000. Marshall Wace LLP owned 0.45% of Scorpio Tankers 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 company. GAMMA Investing LLC increased its holdings in shares of Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after acquiring an additional 402 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after buying an additional 263 shares during the period. Covestor Ltd lifted its stake in Scorpio Tankers by 1,375.0% in the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock valued at $41,000 after buying an additional 770 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after buying an additional 266 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Scorpio Tankers by 850.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company’s stock worth $49,000 after acquiring an additional 876 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 3.2 %

STNG stock opened at $34.21 on Tuesday. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 2.62 and a beta of -0.01. Scorpio Tankers Inc. has a twelve month low of $30.63 and a twelve month high of $84.67. The business has a 50 day moving average price of $38.45 and a two-hundred day moving average price of $48.50. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25.

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

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.68%. Scorpio Tankers’s payout ratio is 12.27%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on STNG. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 target price on shares of Scorpio Tankers in a report on Thursday, February 13th. Stifel Nicolaus decreased their price target 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.