Jefferies Financial Group Inc. Takes $9.91 Million Position in Scorpio Tankers Inc. (NYSE:STNG)

Jefferies Financial Group Inc. bought a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 199,486 shares of the shipping company’s stock, valued at approximately $9,912,000. Jefferies Financial Group Inc. owned 0.39% of Scorpio Tankers as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in shares of Scorpio Tankers by 882.8% during the fourth 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. Norges Bank purchased a new position in shares of Scorpio Tankers during the fourth quarter valued at approximately $30,374,000. Barclays PLC increased its stake in shares of Scorpio Tankers by 873.6% during the third 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. Raymond James Financial Inc. purchased a new position in shares of Scorpio Tankers during the fourth quarter valued at approximately $684,000. Finally, Savant Capital LLC bought a new stake in shares of Scorpio Tankers during the fourth quarter valued at approximately $346,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Fearnley Fonds upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Evercore ISI dropped their price target on Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Jefferies Financial Group restated a “buy” rating and set a $65.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 1st. Finally, Stifel Nicolaus dropped their price target on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.50.

Scorpio Tankers Stock Up 1.1%

Shares of NYSE:STNG opened at $41.14 on Monday. The stock has a fifty day simple moving average of $37.48 and a two-hundred day simple moving average of $45.61. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 3.15 and a beta of -0.12. Scorpio Tankers Inc. has a 12-month low of $30.63 and a 12-month high of $84.67. 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 data on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.32. The business had revenue of $204.20 million during the quarter, compared to analysts’ expectations of $205.89 million. Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. The firm’s quarterly revenue was down 45.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.97 earnings per share. On average, research analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers’s payout ratio is 15.76%.

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.