Oxford Asset Management LLP Buys New Stake in Scorpio Tankers Inc. (NYSE:STNG)

Oxford Asset Management LLP bought a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) in the fourth quarter, HoldingsChannel.com reports. The firm bought 7,518 shares of the shipping company’s stock, valued at approximately $374,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STNG. GAMMA Investing LLC increased its stake 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 purchasing an additional 402 shares during the period. Lindbrook Capital LLC increased its position in Scorpio Tankers by 75.8% in 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 holdings in shares of Scorpio Tankers by 1,375.0% during the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock worth $41,000 after buying an additional 770 shares during the last quarter. PNC Financial Services Group Inc. grew its stake 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 worth $46,000 after acquiring an additional 266 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Scorpio Tankers during the third quarter worth $68,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Up 3.8 %

NYSE STNG opened at $37.34 on Friday. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $84.67. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 2.86 and a beta of -0.01. The stock’s 50 day moving average is $37.78 and its two-hundred day moving average is $47.81. 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 (NYSE:STNG) last announced its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 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 analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Friday, March 7th. Scorpio Tankers’s dividend payout ratio is currently 12.27%.

Analysts Set New Price Targets

STNG has been the subject of a number of research reports. Stifel Nicolaus reduced their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a report on Friday, February 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a research note on Thursday, February 13th. Finally, Evercore ISI lowered their price target on Scorpio Tankers from $64.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.75.

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.