Scorpio Tankers Inc. (NYSE:STNG) Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 40.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,980 shares of the shipping company's stock after buying an additional 13,750 shares during the quarter. International Assets Investment Management LLC owned 0.10% of Scorpio Tankers worth $1,803,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of STNG. U S Global Investors Inc. grew its position in Scorpio Tankers by 4.4% in the 4th quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company's stock valued at $253,000 after acquiring an additional 215 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock worth $30,000 after purchasing an additional 263 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after purchasing an additional 266 shares during the last quarter. Ellevest Inc. increased its stake in Scorpio Tankers by 8.4% in the 4th quarter. Ellevest Inc. now owns 6,278 shares of the shipping company's stock worth $312,000 after buying an additional 485 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Scorpio Tankers by 0.7% during the 4th quarter. Rhumbline Advisers now owns 76,004 shares of the shipping company's stock valued at $3,777,000 after buying an additional 559 shares in the last quarter. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Stock Down 4.5%

Shares of STNG traded down $1.88 during trading hours on Tuesday, hitting $40.43. The company had a trading volume of 1,204,115 shares, compared to its average volume of 987,798. The company has a current ratio of 4.20, a quick ratio of 4.12 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $2.06 billion, a PE ratio of 3.98 and a beta of -0.04. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $84.67. The company's fifty day moving average price is $39.75 and its two-hundred day moving average price is $42.76.

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

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.96%. The ex-dividend date was Friday, May 30th. Scorpio Tankers's dividend payout ratio is currently 15.76%.

Analysts Set New Price Targets

STNG has been the topic of a number of research analyst reports. Evercore ISI dropped 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 note on Friday, May 2nd. Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $65.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $60.50.

About Scorpio Tankers

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.