Deutsche Bank AG Has $1.28 Million Stock Holdings in Scorpio Tankers Inc. $STNG

Deutsche Bank AG cut its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 9.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,984 shares of the shipping company’s stock after selling 3,524 shares during the quarter. Deutsche Bank AG owned 0.07% of Scorpio Tankers worth $1,277,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Scorpio Tankers by 6.7% during the first quarter. Vanguard Group Inc. now owns 2,678,503 shares of the shipping company’s stock worth $100,658,000 after buying an additional 167,218 shares in the last quarter. Moors & Cabot Inc. grew its position in Scorpio Tankers by 12.6% during the first quarter. Moors & Cabot Inc. now owns 13,400 shares of the shipping company’s stock worth $504,000 after buying an additional 1,500 shares in the last quarter. TCW Group Inc. grew its position in Scorpio Tankers by 1.2% during the first quarter. TCW Group Inc. now owns 192,892 shares of the shipping company’s stock worth $7,249,000 after buying an additional 2,200 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Scorpio Tankers during the first quarter valued at approximately $19,471,000. Finally, Royce & Associates LP boosted its holdings in Scorpio Tankers by 9.0% during the first quarter. Royce & Associates LP now owns 218,478 shares of the shipping company’s stock valued at $8,210,000 after purchasing an additional 17,980 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on STNG. Fearnley Fonds upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Jefferies Financial Group restated a “buy” rating and set a $65.00 target price on shares of Scorpio Tankers in a research report on Wednesday, July 30th. Finally, Evercore ISI cut their target price on Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.50.

Scorpio Tankers Stock Up 1.3%

Shares of STNG opened at $48.9750 on Friday. The company has a market capitalization of $2.50 billion, a P/E ratio of 6.67 and a beta of -0.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.95 and a quick ratio of 4.83. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $74.67. The business’s 50 day simple moving average is $44.22 and its 200-day simple moving average is $41.17.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.03 by $0.38. The business had revenue of $222.76 million for the quarter, compared to the consensus estimate of $219.26 million. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%.Scorpio Tankers’s revenue was down 39.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.60 EPS. As a group, sell-side analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Wednesday, August 13th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 13th. Scorpio Tankers’s payout ratio is presently 21.80%.

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.