Fox Run Management L.L.C. Has $503,000 Stock Holdings in Scorpio Tankers Inc. $STNG

Fox Run Management L.L.C. trimmed its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 28.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,386 shares of the shipping company’s stock after selling 5,414 shares during the quarter. Fox Run Management L.L.C.’s holdings in Scorpio Tankers were worth $503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STNG. Rhumbline Advisers grew its stake in shares of Scorpio Tankers by 10.7% in the first quarter. Rhumbline Advisers now owns 84,174 shares of the shipping company’s stock worth $3,163,000 after purchasing an additional 8,170 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Scorpio Tankers by 24.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,114 shares of the shipping company’s stock valued at $576,000 after buying an additional 2,971 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Scorpio Tankers by 78.0% in the first quarter. Victory Capital Management Inc. now owns 253,966 shares of the shipping company’s stock valued at $9,544,000 after buying an additional 111,270 shares during the period. Principal Financial Group Inc. increased its stake in shares of Scorpio Tankers by 7.5% in the first quarter. Principal Financial Group Inc. now owns 48,771 shares of the shipping company’s stock valued at $1,833,000 after buying an additional 3,394 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Scorpio Tankers by 1,650.4% during the first quarter. GAMMA Investing LLC now owns 10,485 shares of the shipping company’s stock worth $394,000 after acquiring an additional 9,886 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on STNG. Fearnley Fonds upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Jefferies Financial Group reissued a “buy” rating and set a $65.00 target price on shares of Scorpio Tankers in a research note on Wednesday, July 30th. Finally, Evercore ISI dropped their target price on shares of Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.50.

Scorpio Tankers Price Performance

Shares of STNG opened at $44.97 on Monday. The firm has a market cap of $2.29 billion, a PE ratio of 6.13 and a beta of -0.03. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $74.94. The business’s 50 day moving average price is $43.62 and its two-hundred day moving average price is $41.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.83 and a current ratio of 4.95.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.38. The company had revenue of $222.76 million during the quarter, compared to analyst estimates of $219.26 million. Scorpio Tankers had a net margin of 39.18% and a return on equity of 8.08%. Scorpio Tankers’s revenue for the quarter was down 39.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.60 EPS. On average, equities analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Wednesday, August 13th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, August 13th. This represents a $1.60 annualized dividend and a dividend yield of 3.6%. Scorpio Tankers’s dividend payout ratio is currently 21.80%.

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.