Scorpio Tankers Inc. (NYSE:STNG) Holdings Boosted by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in Scorpio Tankers, now owning 218,478 shares worth approximately $8.21 million after purchasing 17,980 shares this quarter.
• Scorpio Tankers reported an earnings per share (EPS) of $1.03 for the quarter, exceeding estimates, despite a year-over-year revenue decline of 45.3%.
• The company declared a quarterly dividend of $0.40, reflecting an annualized yield of 3.63% as of the last payout date.

Royce & Associates LP raised its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 9.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,478 shares of the shipping company's stock after acquiring an additional 17,980 shares during the period. Royce & Associates LP owned 0.43% of Scorpio Tankers worth $8,210,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of STNG. Signaturefd LLC raised its holdings in shares of Scorpio Tankers by 95.6% during the first quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock valued at $29,000 after buying an additional 372 shares during the last quarter. Covestor Ltd raised its holdings in shares of Scorpio Tankers by 1,375.0% during the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company's stock valued at $41,000 after buying an additional 770 shares during the last quarter. Rossby Financial LCC bought a new stake in shares of Scorpio Tankers during the first quarter valued at approximately $165,000. CWM LLC raised its holdings in shares of Scorpio Tankers by 180.3% during the first quarter. CWM LLC now owns 4,959 shares of the shipping company's stock valued at $186,000 after buying an additional 3,190 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC raised its holdings in shares of Scorpio Tankers by 28.3% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 4,035 shares of the shipping company's stock valued at $200,000 after buying an additional 889 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Price Performance

NYSE:STNG traded up $1.32 during midday trading on Wednesday, hitting $46.42. 564,092 shares of the stock were exchanged, compared to its average volume of 1,045,907. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 4.55 and a beta of -0.04. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $77.83. The business has a 50-day moving average price of $42.04 and a two-hundred day moving average price of $41.65. 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 (NYSE:STNG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.29. Scorpio Tankers had a return on equity of 12.30% and a net margin of 48.08%. Scorpio Tankers's quarterly revenue was down 39.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.60 EPS. Sell-side analysts predict 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. Shareholders of record on Friday, May 30th were issued a $0.40 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 3.45%. Scorpio Tankers's dividend payout ratio is currently 15.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Evercore ISI dropped their target price on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Jefferies Financial Group reissued a "buy" rating and set a $65.00 target price on shares of Scorpio Tankers in a report on Thursday, May 1st. Three research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.