Bridgeway Capital Management LLC Takes Position in Scorpio Tankers Inc. (NYSE:STNG)

Bridgeway Capital Management LLC bought a new position in Scorpio Tankers Inc. (NYSE:STNG) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 141,750 shares of the shipping company’s stock, valued at approximately $7,044,000.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 402 shares during the period. Lindbrook Capital LLC grew its holdings 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 acquiring an additional 263 shares during the last quarter. Covestor Ltd increased its position in shares of 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 acquiring an additional 770 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Scorpio Tankers by 40.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after acquiring an additional 266 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Scorpio Tankers by 850.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company’s stock worth $49,000 after purchasing an additional 876 shares during the last quarter. 54.64% of the stock is owned by institutional investors.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $40.73 on Wednesday. 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 company’s fifty day moving average price is $37.38 and its 200-day moving average price is $46.25. The stock has a market cap of $2.08 billion, a PE ratio of 3.12 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.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.32. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The business had revenue of $204.20 million for the quarter, compared to analysts’ expectations of $205.89 million. During the same quarter in the prior year, the company earned $3.97 earnings per share. The business’s revenue was down 45.3% compared to the same quarter last year. On average, equities analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.93%. The ex-dividend date is Friday, May 30th. Scorpio Tankers’s dividend payout ratio (DPR) is 15.76%.

Analysts Set New Price Targets

A number of research analysts have commented on STNG shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $65.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 1st. Evercore ISI decreased their target price on Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, Stifel Nicolaus cut their price target 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.50.

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.