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

Key Points

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

Several other institutional investors and hedge funds have also made changes to their positions in STNG. Signaturefd LLC increased its position in Scorpio Tankers by 95.6% in the 1st quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock valued at $29,000 after acquiring an additional 372 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Scorpio Tankers in the 1st quarter valued at about $147,000. Rossby Financial LCC acquired a new position in Scorpio Tankers in the 1st quarter valued at about $165,000. CWM LLC increased its position in Scorpio Tankers by 180.3% during the 1st quarter. CWM LLC now owns 4,959 shares of the shipping company's stock worth $186,000 after purchasing an additional 3,190 shares during the period. Finally, Sherbrooke Park Advisers LLC increased 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 purchasing an additional 889 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on STNG shares. Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Jefferies Financial Group reiterated a "buy" rating and set a $65.00 target price on shares of Scorpio Tankers in a research report on Wednesday, July 30th. Finally, Evercore ISI dropped 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. One 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. According to MarketBeat.com, Scorpio Tankers currently has an average rating of "Moderate Buy" and an average target price of $60.50.

Scorpio Tankers Price Performance

STNG stock traded up $0.6450 on Friday, reaching $48.9750. The company had a trading volume of 1,003,840 shares, compared to its average volume of 1,077,233. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $74.67. 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 company's fifty day moving average is $44.22 and its 200 day moving average is $41.12. The company has a market cap of $2.50 billion, a P/E ratio of 6.67 and a beta of -0.03.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $222.76 million for the quarter, compared to analyst estimates of $219.26 million. During the same quarter in the prior year, the company earned $3.60 EPS. Scorpio Tankers's revenue was down 39.5% on a year-over-year basis. On average, research analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors 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 dividend on an annualized basis and a yield of 3.3%. Scorpio Tankers's dividend payout ratio is presently 21.80%.

About Scorpio Tankers

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.