Pacer Advisors Inc. Invests $19.47 Million in Scorpio Tankers Inc. (NYSE:STNG)

Key Points

• Pacer Advisors Inc. acquired a new stake in Scorpio Tankers Inc. by purchasing 518,134 shares valued at approximately $19.47 million, representing 1.02% of the company's total shares.
• Scorpio Tankers recently beat earnings expectations, reporting $1.03 earnings per share for the quarter, exceeding the consensus estimate of $0.71.
• The company announced a quarterly dividend of $0.40 per share, resulting in an annualized dividend of $1.60 and a yield of 3.63%.

Pacer Advisors Inc. acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 518,134 shares of the shipping company's stock, valued at approximately $19,471,000. Pacer Advisors Inc. owned 1.02% of Scorpio Tankers as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in STNG. Signaturefd LLC increased its holdings 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 purchasing an additional 372 shares during the period. Covestor Ltd boosted its position 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 valued at $41,000 after acquiring an additional 770 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of Scorpio Tankers during the 1st quarter valued at about $165,000. CWM LLC boosted its position in shares of Scorpio Tankers by 180.3% during the 1st quarter. CWM LLC now owns 4,959 shares of the shipping company's stock valued at $186,000 after acquiring an additional 3,190 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC boosted its position 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 valued at $200,000 after acquiring an additional 889 shares in the last quarter. Institutional investors own 54.64% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on STNG. Fearnley Fonds upgraded shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Evercore ISI decreased 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 report on Friday, May 2nd. Finally, Jefferies Financial Group reiterated 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 assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.50.

Scorpio Tankers Price Performance

NYSE:STNG traded up $1.38 on Wednesday, reaching $46.48. The stock had a trading volume of 606,463 shares, compared to its average volume of 1,046,135. The company has a market capitalization of $2.37 billion, a P/E ratio of 4.57 and a beta of -0.04. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $77.83. The company has a quick ratio of 4.12, a current ratio of 4.20 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $42.04 and a 200-day moving average price of $41.65.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.29. 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 39.5% compared to the same quarter last year. During the same period last year, the firm earned $3.60 EPS. Research analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.44%. Scorpio Tankers's payout ratio 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.