Rhumbline Advisers Increases Stake in Scorpio Tankers Inc. (NYSE:STNG)

Rhumbline Advisers increased its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 10.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,174 shares of the shipping company's stock after purchasing an additional 8,170 shares during the period. Rhumbline Advisers owned approximately 0.17% of Scorpio Tankers worth $3,163,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lindbrook Capital LLC lifted its position in Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after purchasing an additional 263 shares in the last quarter. Covestor Ltd increased its holdings in Scorpio Tankers by 1,375.0% in 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 during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Scorpio Tankers by 40.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock valued at $46,000 after purchasing an additional 266 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Scorpio Tankers by 850.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock valued at $49,000 after buying an additional 876 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Scorpio Tankers in the fourth quarter valued at $99,000. 54.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on STNG shares. Jefferies Financial Group reiterated a "buy" rating and issued a $65.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 1st. Evercore ISI reduced their target price on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Fearnley Fonds raised shares of 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 assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

Scorpio Tankers Stock Up 0.2%

Scorpio Tankers stock traded up $0.09 during mid-day trading on Thursday, reaching $44.32. 1,392,563 shares of the company were exchanged, compared to its average volume of 902,761. Scorpio Tankers Inc. has a 12-month low of $30.63 and a 12-month high of $84.67. The business has a fifty day moving average of $39.23 and a 200 day moving average of $43.01. The firm has a market cap of $2.26 billion, a P/E ratio of 4.37 and a beta of -0.04. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.12 and a current ratio of 4.20.

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

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 3.61%. Scorpio Tankers's dividend payout ratio is currently 15.76%.

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.