Rhumbline Advisers Purchases 8,170 Shares of Scorpio Tankers Inc. $STNG

Rhumbline Advisers lifted its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 10.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,174 shares of the shipping company’s stock after purchasing an additional 8,170 shares during the period. Rhumbline Advisers owned 0.16% of Scorpio Tankers worth $3,163,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Pacer Advisors Inc. purchased a new position in Scorpio Tankers in the 1st quarter valued at approximately $19,471,000. Vanguard Group Inc. increased 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 during the period. Nuveen LLC purchased a new position in shares of Scorpio Tankers during the first quarter valued at about $4,666,000. AQR Capital Management LLC lifted its stake in shares of Scorpio Tankers by 55.1% in the first quarter. AQR Capital Management LLC now owns 334,858 shares of the shipping company’s stock worth $12,584,000 after buying an additional 119,000 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Scorpio Tankers by 78.0% during the first quarter. Victory Capital Management Inc. now owns 253,966 shares of the shipping company’s stock valued at $9,544,000 after purchasing an additional 111,270 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

STNG opened at $60.80 on Tuesday. 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 firm has a fifty day moving average price of $47.92 and a 200 day moving average price of $42.23. The stock has a market cap of $3.10 billion, a P/E ratio of 8.28 and a beta of 0.03. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $74.67.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.38. The company had revenue of $222.76 million during the quarter, compared to analysts’ expectations of $219.26 million. Scorpio Tankers had a net margin of 39.18% and a return on equity of 8.08%. The firm’s revenue for the quarter was down 39.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.60 earnings per share. Equities research analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Wednesday, August 13th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Wednesday, August 13th. Scorpio Tankers’s dividend payout ratio is 21.80%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of Scorpio Tankers from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Bank of America upgraded shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and boosted their price target for the company from $49.00 to $60.00 in a report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $59.00.

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.