In this article, we discuss the 5 oil tanker stocks that pay dividends. If you want to read about some more oil tanker stocks, go directly to 10 Oil Tanker Stocks That Pay Dividends.
5. Scorpio Tankers Inc. (NYSE:STNG)
Number of Hedge Fund Holders: 15
Forward Dividend Yield: 1.91%
Scorpio Tankers Inc. (NYSE:STNG) engages in the transportation of refined petroleum products. The firm is one of the reliable oil tanker stocks with regards to dividend payouts. For the past eight years, the firm has consistently paid a dividend to shareholders. On February 14, the firm declared a quarterly dividend of $0.10 per share, in line with previous. The company recently announced that it had entered into an agreement to sell three vessels and raise more than $112 million from the sales.
On March 3, Bank of America analyst Ken Hoexter upgraded Scorpio Tankers Inc. (NYSE:STNG) stock to Buy from Neutral and raised the price target to $23 from $15.50, noting that rising rate outlook amid tightening product tanker capacity was one of the main reasons behind the upgrade.
Among the hedge funds being tracked by Insider Monkey, London-based investment firm Hosking Partners is a leading shareholder in Scorpio Tankers Inc. (NYSE:STNG) with 710,789 shares worth more than $9 million.
At the end of the fourth quarter of 2021, 15 hedge funds in the database of Insider Monkey held stakes worth $34 million in Scorpio Tankers Inc. (NYSE:STNG), compared to 18 in the previous quarter worth $56 million.
4. DHT Holdings, Inc. (NYSE:DHT)
Number of Hedge Fund Holders: 16
Forward Dividend Yield: 1.34%
DHT Holdings, Inc. (NYSE:DHT) owns and operates crude oil tankers. The company has solid finances, evidenced by a handsome earnings beat in the fourth quarter of 2021 and 15 years of consistent dividend payouts for shareholders. On February 7, it declared a quarterly dividend of $0.02 per share, in line with previous. The Russian invasion of Ukraine and high energy prices due to post-pandemic rise in demand as well as supply chain problems have all served to boost the shares of the firm in the past few weeks.
In early January, DHT Holdings, Inc. (NYSE:DHT) stock climbed more than 4% after the company announced that it had purchased 561,111 of its own shares at an average price of $5.2848 per share. The chunk represents nearly 0.3% of the outstanding stock.
At the end of the fourth quarter of 2021, 16 hedge funds in the database of Insider Monkey held stakes worth $84 million in DHT Holdings, Inc. (NYSE:DHT), up from 15 in the previous quarter worth $110 million.
Among the hedge funds being tracked by Insider Monkey, New York-based firm Renaissance Technologies is a leading shareholder in DHT Holdings, Inc. (NYSE:DHT) with 4.2 million shares worth more than $22 million.
3. Matson, Inc. (NYSE:MATX)
Number of Hedge Fund Holders: 19
Forward Dividend Yield: 1.29%
Matson, Inc. (NYSE:MATX) provides transportation and logistics services. The company has a stellar dividend history with 32 years of consecutive payouts and 9 years of consistent growth in the dividend space. In late January, the firm declared a quarterly dividend of $0.30 per share, in line with previous. In the fourth quarter of 2021, the firm also beat market estimates on earnings per share and revenue by $2.58 and $190 million. The company is one of the premier transport service providers in Hawaii, Alaska, and Guam.
On March 14, Stifel analyst Benjamin Nolan kept a Buy rating on Matson, Inc. (NYSE:MATX) stock and raised the price target to $131 from $98, underlining that “shifting equipment around should give the company a major boost in China and greater run rate volumes”.
At the end of the fourth quarter of 2021, 19 hedge funds in the database of Insider Monkey held stakes worth $40 million in Matson, Inc. (NYSE:MATX), compared to 13 in the preceding quarter worth $20 million.
Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm AltraVue Capital is a leading shareholder in Matson, Inc. (NYSE:MATX) with 840,895 shares worth more than $21 million.
2. Genco Shipping & Trading Limited (NYSE:GNK)
Number of Hedge Fund Holders: 20
Forward Dividend Yield: 12.10%
Genco Shipping & Trading Limited (NYSE:GNK) engages in the ocean transportation of a variety of cargoes. The company is on part with the sector median with regards to dividend payouts. However, it recently hiked the dividend payment by a massive 350%. On March 8, the quarterly dividend payout was $0.67 per share, compared to $0.15 per share previously. In late February, the firm also announced quarterly earnings, beating market estimates on earnings per share and revenue by $0.05 and $49 million respectively.
Genco Shipping & Trading Limited (NYSE:GNK) has an impressive fleet of vehicles which consist of 44 dry bulk carriers. These include 17 Capesize, 15 Ultramax, and 12 Supramax with an aggregate capacity of approximately 4,636,000 deadweight tons.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Centerbridge Partners is a leading shareholder in Genco Shipping & Trading Limited (NYSE:GNK) with 4.5 million shares worth more than $73 million.
At the end of the fourth quarter of 2021, 20 hedge funds in the database of Insider Monkey held stakes worth $144 million in Genco Shipping & Trading Limited (NYSE:GNK), compared to 17 in the preceding quarter worth $175 million.
1. Danaos Corporation (NYSE:DAC)
Number of Hedge Fund Holders: 21
Forward Dividend Yield: 3.07%
Danaos Corporation (NYSE:DAC) owns and operates containerships across the globe. The firm is based in Greece. On February 7, the firm declared a quarterly dividend of $0.75 per share, an increase of 50% from the previous payout of $0.50 per share. It also declared earnings for the fourth quarter of 2021 on the same date, reporting earnings per share of $6.10, beating estimates by $1.15. The revenue over the period was $215 million, up more than 79% compared to the revenue in the fourth quarter of 2020.
On February 9. Citi analyst Christian Wetherbee kept a Neutral rating on Danaos Corporation (NYSE:DAC) stock and raised the price target to $115 from $90, appreciating the earnings of the firm driven by strong charting activity.
At the end of the fourth quarter of 2021, 21 hedge funds in the database of Insider Monkey held stakes worth $197 million in Danaos Corporation (NYSE:DAC), compared to 16 in the preceding quarter worth $159 million.
Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm Impala Asset Management is a leading shareholder in Danaos Corporation (NYSE:DAC) with 974,041 shares worth more than $72 million.
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