Rhumbline Advisers Grows Stock Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Rhumbline Advisers grew its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 10.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,174 shares of the shipping company’s stock after buying an additional 8,170 shares during the quarter. Rhumbline Advisers owned 0.17% of Scorpio Tankers worth $3,163,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of STNG. Norges Bank purchased a new position in shares of Scorpio Tankers in the fourth quarter valued at $30,374,000. Raymond James Financial Inc. purchased a new position in shares of Scorpio Tankers in the fourth quarter valued at $684,000. Savant Capital LLC purchased a new position in shares of Scorpio Tankers in the fourth quarter valued at $346,000. Principal Financial Group Inc. boosted its stake in shares of Scorpio Tankers by 9.6% in the fourth quarter. Principal Financial Group Inc. now owns 45,377 shares of the shipping company’s stock valued at $2,255,000 after purchasing an additional 3,961 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Scorpio Tankers by 171.9% in the fourth quarter. Victory Capital Management Inc. now owns 142,696 shares of the shipping company’s stock valued at $7,091,000 after purchasing an additional 90,217 shares during the period. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Trading Up 3.7%

NYSE STNG opened at $43.37 on Monday. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $84.67. 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 market capitalization of $2.21 billion, a price-to-earnings ratio of 3.33 and a beta of -0.04. The company’s fifty day moving average price is $38.67 and its two-hundred day moving average price is $43.06.

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

Scorpio Tankers Announces Dividend

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 paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 3.69%. Scorpio Tankers’s dividend payout ratio (DPR) is 15.76%.

Analyst Ratings Changes

Several brokerages have recently weighed in on STNG. Jefferies Financial Group restated a “buy” rating and issued a $65.00 target price on shares of Scorpio Tankers in a research note on Thursday, May 1st. Fearnley Fonds upgraded shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, Evercore ISI decreased their target price on shares of Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

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.