Gallacher Capital Management LLC Buys 603 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Gallacher Capital Management LLC grew its stake in Scorpio Tankers Inc. (NYSE:STNG) by 6.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,409 shares of the shipping company’s stock after acquiring an additional 603 shares during the period. Gallacher Capital Management LLC’s holdings in Scorpio Tankers were worth $517,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after purchasing an additional 402 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after buying an additional 263 shares in the last quarter. AM Squared Ltd bought a new position in shares of Scorpio Tankers during the 3rd quarter worth $64,000. PNC Financial Services Group Inc. grew its position in shares of Scorpio Tankers by 40.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock worth $46,000 after buying an additional 266 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Scorpio Tankers during the 3rd quarter worth about $68,000. Institutional investors own 54.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on STNG. Stifel Nicolaus dropped their target price 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. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Scorpio Tankers currently has an average rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Stock Up 2.1 %

NYSE:STNG opened at $39.57 on Friday. The company’s 50-day simple moving average is $46.03 and its 200-day simple moving average is $55.01. 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 Inc. has a fifty-two week low of $37.14 and a fifty-two week high of $84.67. The stock has a market capitalization of $2.00 billion, a P/E ratio of 3.03 and a beta of 0.01.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s payout ratio is 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.