LSV Asset Management Reduces Position in Scorpio Tankers Inc. (NYSE:STNG)

Key Points

• LSV Asset Management has reduced its stake in Scorpio Tankers Inc. by 6.2%, now holding about 3.56% of the company with a total of 1,815,309 shares worth approximately $68.2 million.
• Several institutional investors, including FMR LLC and Vanguard Group Inc., have increased their holdings in Scorpio Tankers, indicating strong institutional interest in the company.
• Scorpio Tankers reported earnings of $1.41 per share in its latest quarter, exceeding analyst expectations, despite a year-over-year revenue decline of 39.5% to $222.76 million.

LSV Asset Management trimmed its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 6.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,815,309 shares of the shipping company's stock after selling 120,800 shares during the quarter. LSV Asset Management owned about 3.56% of Scorpio Tankers worth $68,219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in STNG. Signaturefd LLC raised its stake in shares of Scorpio Tankers by 95.6% during the 1st quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock worth $29,000 after buying an additional 372 shares in the last quarter. Covestor Ltd raised its stake in shares of Scorpio Tankers by 1,375.0% during the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company's stock worth $41,000 after buying an additional 770 shares in the last quarter. Sherbrooke Park Advisers LLC raised its stake in shares of Scorpio Tankers by 28.3% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 4,035 shares of the shipping company's stock worth $200,000 after buying an additional 889 shares in the last quarter. Rossby Financial LCC purchased a new position in shares of Scorpio Tankers during the 1st quarter worth approximately $165,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Scorpio Tankers by 1,652.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,626 shares of the shipping company's stock worth $230,000 after buying an additional 4,362 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Price Performance

NYSE STNG traded up $0.30 during mid-day trading on Tuesday, hitting $48.12. The stock had a trading volume of 109,677 shares, compared to its average volume of 1,058,185. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $75.69. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 6.55 and a beta of -0.03. The company has a 50 day simple moving average of $42.55 and a 200 day simple moving average of $41.31. The company has a quick ratio of 4.83, a current ratio of 4.95 and a debt-to-equity ratio of 0.28.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.38. The firm had revenue of $222.76 million during the quarter, compared to the consensus estimate of $219.26 million. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%. Scorpio Tankers's quarterly revenue was down 39.5% on a year-over-year basis. During the same period last year, the business posted $3.60 EPS. Equities analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $1.60 annualized dividend and a yield of 3.3%. Scorpio Tankers's dividend payout ratio (DPR) is presently 21.80%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $65.00 price objective on shares of Scorpio Tankers in a research note on Wednesday, July 30th. Finally, Evercore ISI dropped their price objective on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Scorpio Tankers presently has an average rating of "Moderate Buy" and an average target price 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.