5 Best Shipping Stocks That Pay Dividends

4. Scorpio Tankers Inc. (NYSE:STNG)

Number of Hedge Fund Holders: 18

Dividend Yield as of June 10, 2022: 1.07%

Scorpio Tankers Inc. (NYSE:STNG), as the name suggests, is a shipping company that transports petroleum products. The company is based in Monaco and it has hundreds of tankers in its portfolio.

BTIG raised Scorpio Tankers Inc. (NYSE:STNG)’s share price target to $42 from $31 in June 2022, outlining that the company’s cash flows are benefiting from the rate increases in product tankers. The company had a dividend yield of 1.07% as of June 2022.

As its fiscal Q1 came to an end, Scorpio Tankers Inc. (NYSE:STNG) had raked in $174 million in revenue and -$0.27 in non-GAAP EPS, beating analyst estimates for both metrics. By the end of this year’s first quarter, 18 out of 912 hedge funds profiled by Insider Monkey had invested in the firm’s shares.

Jeremy Hosking’s Hosking Partners is Scorpio Tankers Inc. (NYSE:STNG)’s largest investor. It holds a $14 million stake in the company which comes through 695,899 shares.