Assenagon Asset Management S.A. Has $1.92 Million Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Assenagon Asset Management S.A. lowered its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 74.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,142 shares of the shipping company’s stock after selling 150,511 shares during the quarter. Assenagon Asset Management S.A. owned 0.10% of Scorpio Tankers worth $1,922,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Scorpio Tankers by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company’s stock worth $174,512,000 after purchasing an additional 10,854 shares during the last quarter. FMR LLC raised its position in shares of Scorpio Tankers by 266.2% during the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock valued at $129,870,000 after acquiring an additional 1,899,981 shares during the last quarter. Vanguard Group Inc. increased its holdings in Scorpio Tankers by 22.3% in the fourth quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock valued at $124,786,000 after purchasing an additional 458,120 shares during the last quarter. Cooper Creek Partners Management LLC raised 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 valued at $109,098,000 after acquiring an additional 1,738,190 shares during the period. Finally, American Century Companies Inc. raised its holdings in Scorpio Tankers by 10.9% in the fourth quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company’s stock worth $77,437,000 after purchasing an additional 153,267 shares during the period. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Price Performance

Shares of STNG opened at $44.25 on Wednesday. The firm has a market capitalization of $2.26 billion, a PE ratio of 4.36 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 Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $84.67. The company’s 50-day moving average is $39.03 and its 200-day moving average is $43.00.

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, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $205.89 million. During the same quarter last year, the business earned $3.97 EPS. The company’s quarterly revenue was down 45.3% compared to the same quarter last year. Equities analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 3.62%. Scorpio Tankers’s dividend payout ratio is presently 15.76%.

Analysts Set New Price Targets

STNG has been the topic of several recent analyst reports. Evercore ISI cut their price objective on Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. 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, Jefferies Financial Group reissued a “buy” rating and issued a $65.00 target price on shares of Scorpio Tankers in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

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.