Moody Aldrich Partners LLC Has $1.52 Million Position in Scorpio Tankers Inc. (NYSE:STNG)

Moody Aldrich Partners LLC raised its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 32.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,502 shares of the shipping company's stock after acquiring an additional 9,902 shares during the period. Moody Aldrich Partners LLC owned 0.08% of Scorpio Tankers worth $1,522,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in STNG. Principal Financial Group Inc. boosted its position in shares of Scorpio Tankers by 9.6% during the fourth quarter. Principal Financial Group Inc. now owns 45,377 shares of the shipping company's stock worth $2,255,000 after buying an additional 3,961 shares during the period. Victory Capital Management Inc. grew its stake in shares of Scorpio Tankers by 171.9% in the fourth quarter. Victory Capital Management Inc. now owns 142,696 shares of the shipping company's stock worth $7,091,000 after purchasing an additional 90,217 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Scorpio Tankers during the fourth quarter valued at $684,000. Lindbrook Capital LLC lifted its holdings in 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 period. Finally, PNC Financial Services Group Inc. lifted its holdings in 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 period. 54.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

STNG has been the topic of a number of research 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 report on Friday, May 2nd. Jefferies Financial Group reissued a "buy" rating and issued a $65.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 1st. Finally, Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Scorpio Tankers presently has an average rating of "Moderate Buy" and an average target price of $60.50.

Scorpio Tankers Price Performance

NYSE STNG traded up $0.61 on Friday, reaching $42.46. The company's stock had a trading volume of 465,741 shares, compared to its average volume of 938,768. The firm has a market cap of $2.17 billion, a PE ratio of 4.18 and a beta of -0.04. The company has a current ratio of 4.20, a quick ratio of 4.12 and a debt-to-equity ratio of 0.30. Scorpio Tankers Inc. has a 52 week low of $30.63 and a 52 week high of $81.50. The business has a 50-day moving average price of $40.81 and a 200 day moving average price of $42.40.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.32. Scorpio Tankers had a return on equity of 12.30% and a net margin of 48.08%. The firm 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 company posted $3.97 earnings per share. The business's revenue for the quarter was down 45.3% compared to the same quarter last year. Sell-side analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 3.77%. Scorpio Tankers's dividend payout ratio (DPR) is 15.76%.

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.