Scorpio Tankers Inc. $STNG Shares Bought by American Century Companies Inc.

Key Points

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American Century Companies Inc. raised its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,625,131 shares of the shipping company's stock after purchasing an additional 66,729 shares during the quarter. American Century Companies Inc. owned 3.19% of Scorpio Tankers worth $61,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC boosted its stake in shares of Scorpio Tankers by 95.6% during the 1st quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock worth $29,000 after acquiring an additional 372 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Scorpio Tankers in the first quarter worth $147,000. Sherbrooke Park Advisers LLC raised its position in Scorpio Tankers by 28.3% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 4,035 shares of the shipping company's stock worth $200,000 after buying an additional 889 shares during the last quarter. Rossby Financial LCC purchased a new position in Scorpio Tankers during the first quarter worth approximately $165,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Scorpio Tankers by 1,652.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,626 shares of the shipping company's stock valued at $230,000 after buying an additional 4,362 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Scorpio Tankers Stock Up 1.3%

NYSE STNG traded up $0.6450 during trading hours on Friday, reaching $48.9750. 1,003,840 shares of the company's stock traded hands, compared to its average volume of 1,055,829. 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 firm has a 50-day simple moving average of $44.11 and a 200 day simple moving average of $41.24. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $74.67. The firm has a market cap of $2.50 billion, a PE ratio of 6.67 and a beta of -0.03.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.38. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%.The business had revenue of $222.76 million during the quarter, compared to analyst estimates of $219.26 million. During the same quarter in the previous year, the firm earned $3.60 EPS. Scorpio Tankers's revenue was down 39.5% on a year-over-year basis. Sell-side analysts anticipate 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. Stockholders of record on Wednesday, August 13th will be paid 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 payout ratio is currently 21.80%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Jefferies Financial Group reissued a "buy" rating and set a $65.00 price target on shares of Scorpio Tankers in a research report on Wednesday, July 30th. Evercore ISI lowered their price target 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. Finally, Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $60.50.

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.