Scorpio Tankers Inc. $STNG Shares Bought by Invesco Ltd.

Invesco Ltd. grew its stake in Scorpio Tankers Inc. (NYSE:STNG) by 17.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,600 shares of the shipping company’s stock after acquiring an additional 20,764 shares during the quarter. Invesco Ltd. owned about 0.27% of Scorpio Tankers worth $5,171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Scorpio Tankers by 6.7% in the first quarter. Vanguard Group Inc. now owns 2,678,503 shares of the shipping company’s stock valued at $100,658,000 after acquiring an additional 167,218 shares in the last quarter. Moors & Cabot Inc. lifted its position in shares of Scorpio Tankers by 12.6% in the first quarter. Moors & Cabot Inc. now owns 13,400 shares of the shipping company’s stock valued at $504,000 after acquiring an additional 1,500 shares in the last quarter. TCW Group Inc. lifted its position in shares of Scorpio Tankers by 1.2% in the first quarter. TCW Group Inc. now owns 192,892 shares of the shipping company’s stock valued at $7,249,000 after acquiring an additional 2,200 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Scorpio Tankers in the first quarter valued at $19,471,000. Finally, Royce & Associates LP lifted its position in shares of Scorpio Tankers by 9.0% in the first quarter. Royce & Associates LP now owns 218,478 shares of the shipping company’s stock valued at $8,210,000 after acquiring an additional 17,980 shares in the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STNG has been the topic of several recent research reports. Jefferies Financial Group restated a “buy” rating and issued a $65.00 price objective on shares of Scorpio Tankers in a research report on Wednesday, July 30th. Fearnley Fonds upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report 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 on the stock in a research report on Friday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and an average price target of $60.50.

Scorpio Tankers Stock Performance

Shares of NYSE:STNG opened at $49.72 on Thursday. The firm has a market capitalization of $2.54 billion, a PE ratio of 6.77 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. The business has a 50-day moving average of $44.58 and a two-hundred day moving average of $41.25. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $74.67.

Scorpio Tankers (NYSE:STNG) last announced its quarterly 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 company had revenue of $222.76 million during the quarter, compared to analyst estimates of $219.26 million. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%.The firm’s revenue was down 39.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.60 earnings per share. As a group, research analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, August 13th. This represents a $1.60 annualized dividend and a yield of 3.2%. Scorpio Tankers’s dividend payout ratio is currently 21.80%.

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.