Geode Capital Management LLC Has $37.87 Million Stake in Scorpio Tankers Inc. (NYSE:STNG)

Geode Capital Management LLC lowered its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 762,136 shares of the shipping company’s stock after selling 5,993 shares during the quarter. Geode Capital Management LLC owned about 1.51% of Scorpio Tankers worth $37,871,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in STNG. Norges Bank bought a new stake in shares of Scorpio Tankers during the 4th quarter valued at $30,374,000. Vanguard Group Inc. lifted its position in Scorpio Tankers by 22.3% during the fourth quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock worth $124,786,000 after purchasing an additional 458,120 shares during the period. Assenagon Asset Management S.A. grew its stake in Scorpio Tankers by 882.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock worth $10,020,000 after buying an additional 181,135 shares in the last quarter. Barclays PLC increased its holdings in Scorpio Tankers by 873.6% in the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after buying an additional 168,866 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Scorpio Tankers by 10.9% in the 4th quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company’s stock valued at $77,437,000 after buying an additional 153,267 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

Analysts Set New Price Targets

STNG has been the topic of a number of recent analyst reports. Stifel Nicolaus decreased their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Price Performance

STNG stock opened at $33.63 on Wednesday. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 2.58 and a beta of -0.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The company has a 50 day simple moving average of $39.50 and a 200 day simple moving average of $49.72. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. Research analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.76%. Scorpio Tankers’s dividend payout ratio is presently 12.27%.

About Scorpio Tankers

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.