Signaturefd LLC Raises Stake in Scorpio Tankers Inc. $STNG

Signaturefd LLC lifted its stake in Scorpio Tankers Inc. (NYSE:STNG) by 95.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,487 shares of the shipping company’s stock after purchasing an additional 726 shares during the period. Signaturefd LLC’s holdings in Scorpio Tankers were worth $58,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in STNG. Vanguard Group Inc. increased its holdings in 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 buying an additional 167,218 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Scorpio Tankers by 4.3% in the 1st quarter. American Century Companies Inc. now owns 1,625,131 shares of the shipping company’s stock worth $61,072,000 after acquiring an additional 66,729 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Scorpio Tankers in the 1st quarter worth approximately $19,471,000. Northern Trust Corp increased its stake in Scorpio Tankers by 3.8% in the 1st quarter. Northern Trust Corp now owns 466,928 shares of the shipping company’s stock valued at $17,547,000 after purchasing an additional 17,186 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Scorpio Tankers by 598.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 357,120 shares of the shipping company’s stock worth $13,974,000 after buying an additional 305,978 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Up 1.8%

Shares of NYSE:STNG opened at $57.31 on Monday. The stock has a 50-day simple moving average of $51.87 and a 200-day simple moving average of $44.03. The stock has a market capitalization of $2.92 billion, a P/E ratio of 7.81 and a beta of 0.01. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $74.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.83 and a current ratio of 4.95.

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

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Wednesday, August 13th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, August 13th. Scorpio Tankers’s dividend payout ratio is 21.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Zacks Research raised Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 12th. Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Saturday, September 27th. Jefferies Financial Group increased their price objective on Scorpio Tankers from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Finally, Bank of America lifted their price objective on Scorpio Tankers from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Scorpio Tankers presently has a consensus rating of “Buy” and an average price target 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.