Russell Investments Group Ltd. Has $5.05 Million Position 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. boosted its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 34.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 134,429 shares of the shipping company's stock after acquiring an additional 34,215 shares during the period. Russell Investments Group Ltd. owned 0.26% of Scorpio Tankers worth $5,053,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in STNG. Legal & General Group Plc boosted its holdings in Scorpio Tankers by 21.4% in the fourth quarter. Legal & General Group Plc now owns 8,978 shares of the shipping company's stock valued at $446,000 after acquiring an additional 1,583 shares during the last quarter. Raymond James Financial Inc. bought a new position in Scorpio Tankers in the fourth quarter valued at about $684,000. Dimensional Fund Advisors LP boosted its holdings in Scorpio Tankers by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company's stock valued at $174,512,000 after acquiring an additional 10,854 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Scorpio Tankers by 1,652.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,626 shares of the shipping company's stock worth $230,000 after buying an additional 4,362 shares during the last quarter. Finally, Stifel Financial Corp grew its position in shares of Scorpio Tankers by 83.0% during the 4th quarter. Stifel Financial Corp now owns 9,857 shares of the shipping company's stock worth $490,000 after buying an additional 4,470 shares during the period. Institutional investors own 54.64% of the company's stock.

Analyst Upgrades and Downgrades

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

Scorpio Tankers Trading Down 0.5%

STNG traded down $0.24 during mid-day trading on Monday, hitting $48.73. The stock had a trading volume of 509,084 shares, compared to its average volume of 1,052,433. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 6.64 and a beta of -0.03. 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's fifty day simple moving average is $44.22 and its 200-day simple moving average is $41.12. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $74.67.

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, topping analysts' consensus estimates of $1.03 by $0.38. The company had revenue of $222.76 million for the quarter, compared to analyst estimates of $219.26 million. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%.Scorpio Tankers's revenue was down 39.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.60 earnings per share. As a group, research analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.3%. Scorpio Tankers's dividend payout ratio (DPR) is currently 21.80%.

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.