Scorpio Tankers Inc. (NYSE:STNG) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG raised its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 52.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,508 shares of the shipping company’s stock after buying an additional 12,923 shares during the quarter. Deutsche Bank AG owned approximately 0.07% of Scorpio Tankers worth $1,864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC lifted its stake in shares of Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after purchasing an additional 263 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Scorpio Tankers by 1,375.0% during the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock valued at $41,000 after acquiring an additional 770 shares during the period. PNC Financial Services Group Inc. grew its holdings in Scorpio Tankers by 40.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock worth $46,000 after buying an additional 266 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Scorpio Tankers by 850.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company’s stock valued at $49,000 after buying an additional 876 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Scorpio Tankers in the 4th quarter worth $99,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on STNG shares. Fearnley Fonds upgraded shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Evercore ISI lowered their target price on shares of Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Stifel Nicolaus dropped their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $65.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.50.

Scorpio Tankers Trading Up 1.4%

STNG opened at $40.02 on Friday. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $2.04 billion, a PE ratio of 3.07 and a beta of -0.12. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $84.67. The firm has a 50-day moving average price of $37.89 and a two-hundred day moving average price of $44.58.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.32. The firm had revenue of $204.20 million during the quarter, compared to analysts’ expectations of $205.89 million. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The company’s quarterly revenue was down 45.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.97 EPS. As a group, equities analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers’s payout ratio is presently 15.76%.

Scorpio Tankers 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.