Russell Investments Group Ltd. Has $5.05 Million Stake in Scorpio Tankers Inc. $STNG

Key Points

• Russell Investments Group Ltd. increased its stake in Scorpio Tankers Inc. by 34.1%, acquiring an additional 34,215 shares, bringing its total to 134,429 shares valued at approximately $5 million.
• Scorpio Tankers recently reported $1.41 earnings per share for the last quarter, surpassing analysts' expectations, although revenue was down 39.5% compared to the previous year.
• The company declared a quarterly dividend of $0.40 per share, resulting in an annualized yield of 3.3%, with the dividend payout ratio at 21.80%.

Russell Investments Group Ltd. increased its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 34.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 134,429 shares of the shipping company's stock after purchasing an additional 34,215 shares during the period. Russell Investments Group Ltd. owned approximately 0.26% of Scorpio Tankers worth $5,053,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Signaturefd LLC increased its position in shares of Scorpio Tankers by 95.6% in the first 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. Ellevest Inc. grew its position in Scorpio Tankers by 8.4% in the fourth quarter. Ellevest Inc. now owns 6,278 shares of the shipping company's stock valued at $312,000 after acquiring an additional 485 shares during the last quarter. Glenorchy Capital Ltd grew its position in Scorpio Tankers by 2.3% in the fourth quarter. Glenorchy Capital Ltd now owns 30,705 shares of the shipping company's stock valued at $1,526,000 after acquiring an additional 701 shares during the last quarter. Vident Advisory LLC grew its position in Scorpio Tankers by 5.8% in the fourth quarter. Vident Advisory LLC now owns 14,955 shares of the shipping company's stock valued at $743,000 after acquiring an additional 818 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC grew its position in Scorpio Tankers by 28.3% in the fourth 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 during the last quarter. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Trading Up 1.4%

Shares of Scorpio Tankers stock traded up $0.69 during midday trading on Wednesday, reaching $49.72. The company had a trading volume of 1,045,256 shares, compared to its average volume of 1,054,258. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $74.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.95 and a quick ratio of 4.83. The stock has a fifty day moving average price of $44.58 and a 200 day moving average price of $41.25. The firm has a market cap of $2.54 billion, a PE ratio of 6.77 and a beta of -0.03.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued 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 $1.03 by $0.38. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%.The firm had revenue of $222.76 million for the quarter, compared to analyst estimates of $219.26 million. During the same period in the previous year, the firm earned $3.60 earnings per share. The company's revenue was down 39.5% compared to the same quarter last year. On average, equities analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $1.60 annualized dividend and a yield of 3.2%. Scorpio Tankers's payout ratio is 21.80%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on STNG shares. Evercore ISI decreased their target price on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $65.00 target price on shares of Scorpio Tankers in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Scorpio Tankers presently has an average rating of "Moderate Buy" and an average price target of $60.50.

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.