Pacer Advisors Inc. Makes New Investment in Scorpio Tankers Inc. (NYSE:STNG)

Pacer Advisors Inc. acquired a new position in Scorpio Tankers Inc. (NYSE:STNG) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 518,134 shares of the shipping company’s stock, valued at approximately $19,471,000.

A number of other hedge funds also recently modified their holdings of STNG. FMR LLC lifted its position in shares of Scorpio Tankers by 266.2% in the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock worth $129,870,000 after acquiring an additional 1,899,981 shares during the period. Cooper Creek Partners Management LLC lifted its position in shares of Scorpio Tankers by 380.0% in the 4th quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company’s stock worth $109,098,000 after acquiring an additional 1,738,190 shares during the period. Norges Bank bought a new stake in shares of Scorpio Tankers in the 4th quarter worth approximately $30,374,000. Vanguard Group Inc. lifted its position in shares of Scorpio Tankers by 22.3% in the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock worth $124,786,000 after acquiring an additional 458,120 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Scorpio Tankers in the 4th quarter worth approximately $14,426,000. Institutional investors own 54.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price objective on shares of Scorpio Tankers in a research report on Thursday, May 1st. Evercore ISI cut their target price on Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, Fearnley Fonds upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.50.

Scorpio Tankers Price Performance

Scorpio Tankers stock opened at $44.12 on Friday. The business has a 50 day simple moving average of $41.91 and a 200 day simple moving average of $41.77. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $77.83. The company has a market capitalization of $2.25 billion, a PE ratio of 4.35 and a beta of -0.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.20 and a quick ratio of 4.12.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.32. Scorpio Tankers had a return on equity of 12.30% and a net margin of 48.08%. The firm had revenue of $204.20 million during the quarter, compared to analysts’ expectations of $205.89 million. During the same period last year, the firm posted $3.97 EPS. The business’s revenue was down 45.3% on a year-over-year basis. On average, sell-side analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 3.63%. Scorpio Tankers’s dividend payout ratio is 15.76%.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.