277,149 Shares in Scorpio Tankers Inc. $STNG Bought by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. purchased a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 277,149 shares of the shipping company’s stock, valued at approximately $10,845,000. Donald Smith & CO. Inc. owned about 0.54% of Scorpio Tankers as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of STNG. Vanguard Group Inc. raised its stake in shares of Scorpio Tankers by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 2,678,503 shares of the shipping company’s stock worth $100,658,000 after acquiring an additional 167,218 shares in the last quarter. Invesco Ltd. increased its position in shares of Scorpio Tankers by 17.8% during the first quarter. Invesco Ltd. now owns 137,600 shares of the shipping company’s stock worth $5,171,000 after purchasing an additional 20,764 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Scorpio Tankers during the first quarter worth $746,000. Nuveen LLC purchased a new stake in shares of Scorpio Tankers during the 1st quarter valued at $4,666,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Scorpio Tankers by 34.1% in the 1st quarter. Russell Investments Group Ltd. now owns 134,429 shares of the shipping company’s stock worth $5,053,000 after purchasing an additional 34,215 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 0.3%

Scorpio Tankers stock opened at $55.79 on Friday. The business’s 50-day moving average price is $58.75 and its 200 day moving average price is $50.77. The company has a quick ratio of 4.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.25. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 9.44 and a beta of -0.30. Scorpio Tankers Inc. has a 52 week low of $30.63 and a 52 week high of $65.52.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, October 30th. The shipping company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.10. The company had revenue of $232.92 million during the quarter, compared to the consensus estimate of $228.09 million. Scorpio Tankers had a return on equity of 7.42% and a net margin of 32.01%.Scorpio Tankers’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 earnings per share. As a group, sell-side analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 14th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.0%. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, November 14th. Scorpio Tankers’s payout ratio is currently 28.43%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. B. Riley reiterated a “buy” rating and issued a $80.00 price target (up from $75.00) on shares of Scorpio Tankers in a research note on Thursday, October 16th. Evercore ISI set a $80.00 price objective on shares of Scorpio Tankers and gave the company an “outperform” rating in a report on Monday, November 3rd. Zacks Research lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Jefferies Financial Group reaffirmed a “buy” rating and set a $70.00 price target on shares of Scorpio Tankers in a research report on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Scorpio Tankers in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.20.

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.