Russell Investments Group Ltd. boosted its stake in Scorpio Tankers Inc. (NYSE:STNG – Get Rating) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 290,576 shares of the shipping company’s stock after acquiring an additional 5,615 shares during the quarter. Russell Investments Group Ltd. owned about 0.50% of Scorpio Tankers worth $6,209,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of STNG. Allspring Global Investments Holdings LLC purchased a new position in shares of Scorpio Tankers during the 4th quarter valued at approximately $145,000. Royce & Associates LP boosted its stake in shares of Scorpio Tankers by 22.8% during the 4th quarter. Royce & Associates LP now owns 595,276 shares of the shipping company’s stock valued at $7,625,000 after buying an additional 110,600 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Scorpio Tankers by 43.6% during the 4th quarter. American Century Companies Inc. now owns 185,834 shares of the shipping company’s stock valued at $2,381,000 after buying an additional 56,421 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of Scorpio Tankers during the 4th quarter valued at approximately $136,000. Finally, First Trust Advisors LP boosted its stake in shares of Scorpio Tankers by 6.8% during the 4th quarter. First Trust Advisors LP now owns 11,681 shares of the shipping company’s stock valued at $150,000 after buying an additional 742 shares during the last quarter. Hedge funds and other institutional investors own 42.80% of the company’s stock.
Wall Street Analyst Weigh In
STNG has been the topic of several research analyst reports. TheStreet upgraded Scorpio Tankers from a “d+” rating to a “c” rating in a research note on Thursday, July 28th. HC Wainwright raised their price objective on Scorpio Tankers from $28.00 to $38.00 in a research note on Friday, April 29th. StockNews.com upgraded Scorpio Tankers from a “hold” rating to a “buy” rating in a research note on Monday, August 1st. Stifel Nicolaus raised their price objective on Scorpio Tankers from $39.00 to $43.00 in a research note on Tuesday, July 19th. Finally, BTIG Research increased their target price on Scorpio Tankers from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.36.
Scorpio Tankers Price Performance
Shares of STNG opened at $39.95 on Tuesday. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -63.41, a price-to-earnings-growth ratio of 0.10 and a beta of 0.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.50 and a current ratio of 1.53. Scorpio Tankers Inc. has a one year low of $11.02 and a one year high of $42.01. The stock’s fifty day moving average is $36.07 and its 200-day moving average is $26.16.
Scorpio Tankers (NYSE:STNG – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The shipping company reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $405.80 million for the quarter, compared to analyst estimates of $333.11 million. Scorpio Tankers had a positive return on equity of 3.32% and a negative net margin of 1.49%. The company’s quarterly revenue was up 191.1% compared to the same quarter last year. During the same period last year, the company earned ($0.94) earnings per share. Equities analysts anticipate that Scorpio Tankers Inc. will post 6.8 EPS for the current year.
Scorpio Tankers Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, August 11th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, August 10th. Scorpio Tankers’s dividend payout ratio (DPR) is -63.49%.
About Scorpio Tankers
Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 18, 2022, the company’s fleet consisted of 124 owned, finance leased, or bareboat chartered-in tankers, including 42 LR2, 6 LR1, 62 MR, and 14 Handymax with a weighted average age of approximately 6.2 years.
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