Scorpio Tankers Inc. $STNG Stock Position Raised by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its stake in Scorpio Tankers Inc. by 17.0% in Q1, owning 180,000 shares now valued at approximately $6.76 million.
• Analysts have mostly given Scorpio Tankers a positive outlook, with an average price target of $60.50 and a "Moderate Buy" rating.
• Scorpio Tankers reported earnings of $1.41 per share in the last quarter, exceeding estimates and reflecting a significant decline from the previous year.

Canada Pension Plan Investment Board increased its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 17.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 180,000 shares of the shipping company's stock after purchasing an additional 26,103 shares during the period. Canada Pension Plan Investment Board owned 0.35% of Scorpio Tankers worth $6,764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in STNG. Pinnacle Holdings LLC purchased a new position in Scorpio Tankers in the 1st quarter valued at about $26,000. Signaturefd LLC boosted its position in Scorpio Tankers by 95.6% in the 1st quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock valued at $29,000 after buying an additional 372 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Scorpio Tankers in the 1st quarter valued at about $147,000. Rossby Financial LCC purchased a new position in Scorpio Tankers in the 1st quarter valued at about $165,000. Finally, CWM LLC boosted its position in Scorpio Tankers by 180.3% in the 1st quarter. CWM LLC now owns 4,959 shares of the shipping company's stock valued at $186,000 after buying an additional 3,190 shares during the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Up 3.0%

Shares of Scorpio Tankers stock traded up $1.54 during trading on Friday, reaching $52.98. The company had a trading volume of 866,927 shares, compared to its average volume of 895,101. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 7.22 and a beta of 0.04. The firm's fifty day moving average is $45.88 and its 200-day moving average is $41.49. 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 Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $74.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, beating 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 for the quarter was down 39.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.60 EPS. On average, analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed 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 dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, August 13th. Scorpio Tankers's dividend payout ratio is currently 21.80%.

Analyst Ratings Changes

Separately, Jefferies Financial Group reissued a "buy" rating and issued a $65.00 price objective on shares of Scorpio Tankers in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Scorpio Tankers currently has a consensus rating of "Moderate Buy" and an average price target of $60.50.

Scorpio Tankers 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.