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

Jefferies Financial Group Inc. purchased a new position in Scorpio Tankers Inc. (NYSE:STNG) in the 4th quarter, Holdings Channel reports. The firm purchased 199,486 shares of the shipping company’s stock, valued at approximately $9,912,000.

Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of Scorpio Tankers by 882.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock worth $10,020,000 after purchasing an additional 181,135 shares during the last quarter. Norges Bank purchased a new position in shares of Scorpio Tankers in the fourth quarter worth $30,374,000. Barclays PLC raised its stake in shares of Scorpio Tankers by 873.6% in the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock worth $13,418,000 after purchasing an additional 168,866 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Scorpio Tankers in the fourth quarter worth $684,000. Finally, Savant Capital LLC purchased a new position in shares of Scorpio Tankers in the fourth quarter worth $346,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Up 1.1%

Scorpio Tankers stock opened at $41.14 on Monday. The stock has a fifty day moving average of $37.48 and a 200 day moving average of $45.61. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $84.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The stock has a market cap of $2.10 billion, a PE ratio of 3.15 and a beta of -0.12.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, topping 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 business’s quarterly revenue was down 45.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.97 earnings per share. As a group, sell-side analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

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

Analyst Upgrades and Downgrades

STNG has been the subject of a number of research reports. Jefferies Financial Group reiterated a “buy” rating and set a $65.00 price objective on shares of Scorpio Tankers in a research report on Thursday, May 1st. Evercore ISI reduced their price objective on Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Stifel Nicolaus reduced their price objective on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Finally, Fearnley Fonds upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

Scorpio Tankers Company 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.