TrueMark Investments LLC Takes $555,000 Position in Scorpio Tankers Inc. $STNG

TrueMark Investments LLC bought a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) during the fourth quarter, Holdings Channel.com reports. The fund bought 10,923 shares of the shipping company’s stock, valued at approximately $555,000.

Other large investors have also recently bought and sold shares of the company. Marex Group plc acquired a new stake in Scorpio Tankers in the 2nd quarter worth $901,000. Federated Hermes Inc. increased its holdings in shares of Scorpio Tankers by 234.1% during the 3rd quarter. Federated Hermes Inc. now owns 38,524 shares of the shipping company’s stock worth $2,159,000 after purchasing an additional 26,994 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Scorpio Tankers by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,944,875 shares of the shipping company’s stock worth $165,064,000 after purchasing an additional 7,868 shares during the period. Victory Capital Management Inc. raised its position in shares of Scorpio Tankers by 7.1% during the third quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company’s stock valued at $70,053,000 after buying an additional 83,294 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Scorpio Tankers during the third quarter valued at about $2,242,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock opened at $73.63 on Tuesday. The firm has a market cap of $3.81 billion, a P/E ratio of 10.42 and a beta of -0.31. The firm’s 50-day simple moving average is $69.48 and its 200-day simple moving average is $61.38. Scorpio Tankers Inc. has a twelve month low of $30.63 and a twelve month high of $81.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.23 and a current ratio of 9.33.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Friday, February 13th. The shipping company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.25. The firm had revenue of $252.65 million during the quarter, compared to analyst estimates of $238.93 million. Scorpio Tankers had a net margin of 36.70% and a return on equity of 8.85%. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 earnings per share. As a group, research analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, March 6th. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.42. Scorpio Tankers’s payout ratio is currently 25.46%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on STNG. Weiss Ratings reissued a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, December 29th. B. Riley Financial reiterated a “buy” rating on shares of Scorpio Tankers in a research report on Friday, February 13th. Dnb Carnegie lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Zacks Research upgraded Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Finally, Moffett Nathanson upgraded Scorpio Tankers to a “neutral” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.67.

Scorpio Tankers Profile

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.