Nuveen LLC Purchases New Shares in Scorpio Tankers Inc. $STNG

Key Points

• Nuveen LLC has acquired a new stake of 124,174 shares in Scorpio Tankers Inc., valued at approximately $4.67 million, indicating a growing interest from institutional investors in the shipping company.
• Scorpio Tankers reported $1.41 EPS for the last quarter, surpassing analysts' expectations of $1.03, although its revenue was down 39.5% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.40 per share, representing an annualized yield of 3.3%, with an ex-dividend date set for August 13th.

Nuveen LLC purchased a new position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 124,174 shares of the shipping company's stock, valued at approximately $4,666,000. Nuveen LLC owned 0.24% of Scorpio Tankers as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC increased its stake in Scorpio Tankers by 95.6% in the first quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock valued at $29,000 after acquiring an additional 372 shares during the last quarter. Ellevest Inc. increased its stake in Scorpio Tankers by 8.4% in the fourth quarter. Ellevest Inc. now owns 6,278 shares of the shipping company's stock valued at $312,000 after acquiring an additional 485 shares during the last quarter. Glenorchy Capital Ltd increased its stake in Scorpio Tankers by 2.3% in the fourth quarter. Glenorchy Capital Ltd now owns 30,705 shares of the shipping company's stock valued at $1,526,000 after acquiring an additional 701 shares during the last quarter. Vident Advisory LLC increased its stake in Scorpio Tankers by 5.8% in the fourth quarter. Vident Advisory LLC now owns 14,955 shares of the shipping company's stock valued at $743,000 after acquiring an additional 818 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC increased its stake in Scorpio Tankers by 28.3% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 4,035 shares of the shipping company's stock valued at $200,000 after acquiring an additional 889 shares during the last quarter. Institutional investors own 54.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on STNG shares. Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Evercore ISI decreased their target price on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $65.00 price target on shares of Scorpio Tankers in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $60.50.

Scorpio Tankers Trading Up 1.1%

NYSE:STNG traded up $0.55 during midday trading on Friday, reaching $50.44. 1,296,939 shares of the stock traded hands, compared to its average volume of 984,834. The stock has a market capitalization of $2.57 billion, a P/E ratio of 6.87 and a beta of -0.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.83 and a current ratio of 4.95. The company has a fifty day moving average of $44.84 and a 200 day moving average of $41.28. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $74.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.38. The business had revenue of $222.76 million for the quarter, compared to analyst estimates of $219.26 million. Scorpio Tankers had a net margin of 39.18% and a return on equity of 8.08%. The company's revenue was down 39.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.60 EPS. On average, research analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Wednesday, August 13th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, August 13th. Scorpio Tankers's payout ratio is currently 21.80%.

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.