Royce & Associates LP Increases Position in Scorpio Tankers Inc. (NYSE:STNG)

Royce & Associates LP lifted its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 9.0% in the first quarter, Holdings Channel reports. The firm owned 218,478 shares of the shipping company’s stock after buying an additional 17,980 shares during the period. Royce & Associates LP’s holdings in Scorpio Tankers were worth $8,210,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Y Intercept Hong Kong Ltd boosted its position in shares of Scorpio Tankers by 42.0% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 38,610 shares of the shipping company’s stock worth $1,451,000 after purchasing an additional 11,420 shares in the last quarter. Gallacher Capital Management LLC boosted its position in shares of Scorpio Tankers by 55.4% in the 1st quarter. Gallacher Capital Management LLC now owns 16,180 shares of the shipping company’s stock worth $608,000 after purchasing an additional 5,771 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Scorpio Tankers by 78.0% in the 1st quarter. Victory Capital Management Inc. now owns 253,966 shares of the shipping company’s stock worth $9,544,000 after purchasing an additional 111,270 shares in the last quarter. Signaturefd LLC boosted its position in shares of Scorpio Tankers by 95.6% in the 1st quarter. Signaturefd LLC now owns 761 shares of the shipping company’s stock worth $29,000 after purchasing an additional 372 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Scorpio Tankers by 180.3% in the 1st quarter. CWM LLC now owns 4,959 shares of the shipping company’s stock worth $186,000 after purchasing an additional 3,190 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Analyst Ratings Changes

STNG has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $65.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 1st. Evercore ISI lowered their price target 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 raised 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

Scorpio Tankers Stock Performance

Shares of STNG opened at $44.12 on Friday. The stock has a 50-day moving average of $41.91 and a two-hundred day 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 debt-to-equity ratio of 0.30, a quick ratio of 4.12 and a current ratio of 4.20. The stock has a market cap of $2.25 billion, a P/E ratio of 4.35 and a beta of -0.04.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data 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. The business had revenue of $204.20 million during the quarter, compared to analyst estimates of $205.89 million. Scorpio Tankers had a return on equity of 12.30% and a net margin of 48.08%. The company’s revenue was down 45.3% on a year-over-year basis. During the same quarter last year, the business posted $3.97 EPS. As a group, research analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

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