International Assets Investment Management LLC Acquires 13,750 Shares of Scorpio Tankers Inc. (NYSE:STNG)

International Assets Investment Management LLC grew its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 40.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,980 shares of the shipping company's stock after purchasing an additional 13,750 shares during the quarter. International Assets Investment Management LLC owned approximately 0.10% of Scorpio Tankers worth $1,803,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of STNG. Dimensional Fund Advisors LP lifted its holdings in Scorpio Tankers by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company's stock valued at $174,512,000 after acquiring an additional 10,854 shares during the period. FMR LLC grew its stake in Scorpio Tankers by 266.2% in the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company's stock worth $129,870,000 after acquiring an additional 1,899,981 shares during the period. Vanguard Group Inc. boosted its stake in Scorpio Tankers by 22.3% in the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company's stock worth $124,786,000 after buying an additional 458,120 shares during the last quarter. Cooper Creek Partners Management LLC boosted its position in shares of Scorpio Tankers by 380.0% in the fourth quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company's stock worth $109,098,000 after acquiring an additional 1,738,190 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Scorpio Tankers by 10.9% during the 4th quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company's stock valued at $77,437,000 after buying an additional 153,267 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Evercore ISI reduced their price target on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $65.00 price target on shares of Scorpio Tankers in a report on Thursday, May 1st. Finally, Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.50.

Scorpio Tankers Stock Down 1.2%

Shares of STNG stock opened at $40.41 on Friday. The stock has a 50 day moving average of $40.23 and a 200-day moving average of $42.62. The firm has a market cap of $2.06 billion, a PE ratio of 3.98 and a beta of -0.04. The company has a quick ratio of 4.12, a current ratio of 4.20 and a debt-to-equity ratio of 0.30. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $84.34.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.32. The firm had revenue of $204.20 million for the quarter, compared to analyst estimates of $205.89 million. Scorpio Tankers had a net margin of 48.08% and a return on equity of 12.30%. The business's revenue for the quarter was down 45.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.97 EPS. On average, equities analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend was Friday, May 30th. Scorpio Tankers's dividend payout ratio (DPR) 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.