Boston Partners Has $2 Million Holdings in Scorpio Tankers Inc. $STNG

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 grew its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 13.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,177 shares of the shipping company's stock after purchasing an additional 6,229 shares during the quarter. Boston Partners owned approximately 0.10% of Scorpio Tankers worth $1,998,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of STNG. Legal & General Group Plc boosted its stake in shares of Scorpio Tankers by 21.4% in the 4th quarter. Legal & General Group Plc now owns 8,978 shares of the shipping company's stock valued at $446,000 after purchasing an additional 1,583 shares during the last quarter. Raymond James Financial Inc. bought a new position in Scorpio Tankers during the 4th quarter worth approximately $684,000. Townsquare Capital LLC bought a new position in Scorpio Tankers during the 4th quarter worth approximately $527,000. Marshall Wace LLP bought a new position in Scorpio Tankers during the 4th quarter worth approximately $11,190,000. Finally, Canada Pension Plan Investment Board boosted its stake in Scorpio Tankers by 5.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 153,897 shares of the shipping company's stock worth $7,647,000 after acquiring an additional 8,397 shares during the last quarter. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Stock Up 1.0%

STNG stock traded up $0.4940 during mid-day trading on Friday, hitting $48.8240. 270,267 shares of the company were exchanged, compared to its average volume of 1,051,104. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.83 and a current ratio of 4.95. The firm has a market cap of $2.49 billion, a P/E ratio of 6.66 and a beta of -0.03. The firm's 50 day simple moving average is $44.11 and its 200 day simple moving average is $41.24. 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 announced its earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.03 by $0.38. The firm had revenue of $222.76 million for the quarter, compared to the consensus estimate of $219.26 million. Scorpio Tankers had a net margin of 39.18% and a return on equity of 8.08%. The business's quarterly revenue was down 39.5% on a year-over-year basis. During the same period last year, the company posted $3.60 EPS. On average, sell-side analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, August 13th. Scorpio Tankers's dividend payout ratio (DPR) is 21.80%.

Analysts Set New Price Targets

Several research analysts recently weighed in on STNG shares. Fearnley Fonds raised shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Evercore ISI reduced their price objective on shares of 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, Jefferies Financial Group reissued a "buy" rating and set a $65.00 price objective on shares of Scorpio Tankers in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Scorpio Tankers has a consensus rating of "Moderate Buy" and an average target price 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.