AQR Capital Management LLC Purchases 39,186 Shares of Scorpio Tankers Inc. (NYSE:STNG)

AQR Capital Management LLC boosted its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 22.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 215,858 shares of the shipping company's stock after buying an additional 39,186 shares during the period. AQR Capital Management LLC owned approximately 0.43% of Scorpio Tankers worth $10,726,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in STNG. Assenagon Asset Management S.A. increased its position in shares of Scorpio Tankers by 882.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company's stock worth $10,020,000 after purchasing an additional 181,135 shares during the last quarter. Norges Bank purchased a new stake in shares of Scorpio Tankers during the 4th quarter valued at $30,374,000. Barclays PLC lifted its holdings in shares of Scorpio Tankers by 873.6% during the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock worth $13,418,000 after acquiring an additional 168,866 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Scorpio Tankers in the fourth quarter worth $684,000. Finally, Savant Capital LLC purchased a new stake in Scorpio Tankers during the fourth quarter valued at about $346,000. 54.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on STNG shares. Stifel Nicolaus reduced their price objective on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research report on Friday, February 14th. Evercore ISI lowered their price objective on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a report on Friday. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $65.00 target price on shares of Scorpio Tankers in a report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of "Hold" and an average price target of $60.50.

Scorpio Tankers Price Performance

STNG opened at $40.60 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The stock has a market capitalization of $2.07 billion, a PE ratio of 3.11 and a beta of -0.12. The stock's 50 day moving average price is $37.39 and its 200-day moving average price is $46.44. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.32. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The business had revenue of $204.20 million for the quarter, compared to the consensus estimate of $205.89 million. During the same period in the previous year, the firm earned $3.97 EPS. The company's quarterly revenue was down 45.3% compared to the same quarter last year. On average, equities research analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 3.94%. Scorpio Tankers's payout ratio is 15.76%.

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.

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