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.