5 Best Shipping Stocks That Pay Dividends

Page 5 of 5

1. Scorpio Tankers Inc. (NYSE:STNG)

Number Of Hedge Fund Holders: 30

Dividend Yield as of December 14: 0.70%

Scorpio Tankers Inc. (NYSE:STNG) is a tanker shipping company that operates as an international provider in the transportation of refined petroleum products. The company owns and operates fuel tanker vessels with a portfolio of 131 tankers under its ownership.

Earlier on October 31, Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend of $0.10, which will be payable on December 15, to shareholders of record on November 17.

On December 9, BTIG analyst Gregory Lewis raised the price target on Scorpio Tankers Inc. (NYSE:STNG) to $70 from $60 and kept a Buy rating on the shares. The analyst states that his investor meetings with the company management were constructive with product tanker utilization over 90% and a limited order book, which points to a multi-year rate upcycle.

According to Insider Monkey’s data, 30 hedge funds were bullish on Scorpio Tankers Inc. (NYSE:STNG) at the end of September 2022, compared to 26 funds in the last quarter. John Overdeck and David Siegel’s Two Sigma Advisors is a prominent stakeholder of the company, with 961,021 shares worth $40.4 million.

Follow Scorpio Tankers Inc (NYSE:STNG)

You can also take a look at 11 Undervalued Canadian Stocks To Buy and 10 Best December Dividend Stocks To Buy

Page 5 of 5