Ruffer LLP Takes $962,000 Position in Scorpio Tankers Inc. (NYSE:STNG)

Ruffer LLP acquired a new position in Scorpio Tankers Inc. (NYSE:STNG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 19,353 shares of the shipping company’s stock, valued at approximately $962,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings 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 in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Scorpio Tankers during the 3rd quarter valued at about $8,459,000. Mountaineer Partners Management LLC increased its holdings in shares of Scorpio Tankers by 6,926.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after purchasing an additional 8,252,691 shares during the period. Geode Capital Management LLC increased its holdings in shares of Scorpio Tankers by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock valued at $54,768,000 after purchasing an additional 38,599 shares during the period. Finally, Barclays PLC increased its holdings in shares of Scorpio Tankers by 873.6% in the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after purchasing an additional 168,866 shares during the period. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STNG has been the topic of a number of research reports. Stifel Nicolaus dropped their target price on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock 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 report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Trading Down 0.7 %

NYSE:STNG opened at $39.74 on Friday. The stock’s 50 day moving average price is $47.11 and its 200 day moving average price is $56.14. Scorpio Tankers Inc. has a 52 week low of $38.03 and a 52 week high of $84.67. The company has a market capitalization of $2.01 billion, a P/E ratio of 3.05 and a beta of 0.01. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. On average, research analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.03%. Scorpio Tankers’s payout ratio is currently 12.27%.

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.