Victory Capital Management Inc. Grows Position in Scorpio Tankers Inc. (NYSE:STNG)

Victory Capital Management Inc. lifted its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 78.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 253,966 shares of the shipping company’s stock after buying an additional 111,270 shares during the quarter. Victory Capital Management Inc. owned approximately 0.51% of Scorpio Tankers worth $9,544,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Scorpio Tankers during the 4th quarter worth approximately $30,374,000. Rhumbline Advisers raised its stake in shares of Scorpio Tankers by 10.7% during the 1st quarter. Rhumbline Advisers now owns 84,174 shares of the shipping company’s stock worth $3,163,000 after buying an additional 8,170 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Scorpio Tankers during the 4th quarter worth approximately $684,000. Allspring Global Investments Holdings LLC raised its stake in shares of Scorpio Tankers by 24.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,114 shares of the shipping company’s stock worth $576,000 after buying an additional 2,971 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Scorpio Tankers by 7.5% during the 1st quarter. Principal Financial Group Inc. now owns 48,771 shares of the shipping company’s stock worth $1,833,000 after buying an additional 3,394 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Stock Down 0.2%

NYSE STNG opened at $44.65 on Friday. The business has a fifty day moving average price of $41.87 and a 200 day moving average price of $41.91. 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 company has a market cap of $2.28 billion, a P/E ratio of 4.40 and a beta of -0.04.

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 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 during the quarter, compared to the consensus estimate of $205.89 million. During the same period in the prior year, the company earned $3.97 EPS. The firm’s revenue was down 45.3% compared to the same quarter last year. Research analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.58%. The ex-dividend date was Friday, May 30th. Scorpio Tankers’s payout ratio is currently 15.76%.

Analyst Ratings Changes

Several research analysts have recently weighed in on STNG shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $65.00 target price on shares of Scorpio Tankers in a research note on Thursday, May 1st. Fearnley Fonds raised Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, Evercore ISI reduced their price objective on 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Scorpio Tankers presently has an average rating of “Moderate Buy” and an average price target 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.