Scorpio Tankers Inc. (NYSE:STNG) Shares Bought by Boston Partners

Key Points

• Boston Partners increased its stake in Scorpio Tankers by 13.3%, acquiring an additional 6,229 shares, now holding a total of 53,177 shares valued at approximately $1.99 million.
• Scorpio Tankers recently reported earnings of $1.41 per share, surpassing analysts' expectations, though revenue was down 39.5% year-over-year.
• The company announced a quarterly dividend of $0.40 per share, yielding 3.6%, with the payment scheduled for August 29th.

Boston Partners raised its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 13.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,177 shares of the shipping company's stock after acquiring an additional 6,229 shares during the quarter. Boston Partners owned 0.10% of Scorpio Tankers worth $1,998,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new stake in Scorpio Tankers in the first quarter valued at $147,000. Russell Investments Group Ltd. lifted its holdings in Scorpio Tankers by 34.1% in the first quarter. Russell Investments Group Ltd. now owns 134,429 shares of the shipping company's stock valued at $5,053,000 after acquiring an additional 34,215 shares during the period. Nuveen LLC acquired a new stake in Scorpio Tankers in the first quarter valued at $4,666,000. Virtu Financial LLC acquired a new stake in Scorpio Tankers in the first quarter valued at $746,000. Finally, Invesco Ltd. lifted its holdings in Scorpio Tankers by 17.8% in the first quarter. Invesco Ltd. now owns 137,600 shares of the shipping company's stock valued at $5,171,000 after acquiring an additional 20,764 shares during the period. Institutional investors and hedge funds own 54.64% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on STNG shares. Evercore ISI reduced their target price on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a 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 restated a "buy" rating and issued a $65.00 price target on shares of Scorpio Tankers in a research report on Wednesday, July 30th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Scorpio Tankers currently has an average rating of "Moderate Buy" and a consensus target price of $60.50.

Scorpio Tankers Trading Up 0.1%

Shares of STNG stock opened at $44.97 on Friday. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $74.94. The stock has a market cap of $2.29 billion, a P/E ratio of 6.13 and a beta of -0.03. The business has a fifty day simple moving average of $43.62 and a 200-day simple moving average of $41.23. The company has a quick ratio of 4.83, a current ratio of 4.95 and a debt-to-equity ratio of 0.28.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.38. The business had revenue of $222.76 million during the quarter, compared to analysts' expectations of $219.26 million. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%. The business's revenue for the quarter was down 39.5% on a year-over-year basis. During the same quarter last year, the business posted $3.60 earnings per share. On average, analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Wednesday, August 13th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, August 13th. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.