Scorpio Tankers Inc. $STNG Stock Holdings Boosted by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its stake in Scorpio Tankers by 10.4% in Q2, purchasing an additional 4,969 shares, bringing its total ownership to 52,949 shares valued at approximately $2.07 million.
• Scorpio Tankers reported a quarterly EPS of $1.41, significantly beating analyst estimates of $1.03, although its revenue saw a 39.5% decline year-over-year, totaling $222.76 million.
• The company declared a quarterly dividend of $0.40 per share, representing an annualized yield of 2.8% and a payout ratio of 21.80% as of the last payment date.

International Assets Investment Management LLC boosted its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 10.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,949 shares of the shipping company's stock after buying an additional 4,969 shares during the period. International Assets Investment Management LLC owned 0.10% of Scorpio Tankers worth $2,072,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Scorpio Tankers by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 2,678,503 shares of the shipping company's stock valued at $100,658,000 after buying an additional 167,218 shares in the last quarter. American Century Companies Inc. grew its position in Scorpio Tankers by 4.3% in the 1st quarter. American Century Companies Inc. now owns 1,625,131 shares of the shipping company's stock valued at $61,072,000 after buying an additional 66,729 shares in the last quarter. Pacer Advisors Inc. bought a new position in Scorpio Tankers in the 1st quarter valued at about $19,471,000. Northern Trust Corp grew its position in Scorpio Tankers by 3.8% in the 1st quarter. Northern Trust Corp now owns 466,928 shares of the shipping company's stock valued at $17,547,000 after buying an additional 17,186 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Scorpio Tankers by 598.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 357,120 shares of the shipping company's stock valued at $13,974,000 after buying an additional 305,978 shares in the last quarter. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Price Performance

STNG stock opened at $57.52 on Friday. The company has a current ratio of 4.95, a quick ratio of 4.83 and a debt-to-equity ratio of 0.28. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $67.50. The firm has a market capitalization of $2.93 billion, a PE ratio of 7.84 and a beta of 0.01. The firm has a 50-day moving average of $53.57 and a two-hundred day moving average of $45.13.

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

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. Scorpio Tankers's dividend payout ratio is currently 21.80%.

Analysts Set New Price Targets

STNG has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Scorpio Tankers in a research report on Wednesday, October 8th. B. Riley reissued a "buy" rating and issued a $80.00 price target (up from $75.00) on shares of Scorpio Tankers in a report on Thursday. Zacks Research raised shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Friday, September 12th. Bank of America upped their price target on shares of Scorpio Tankers from $60.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, September 30th. Finally, Jefferies Financial Group upped their price target on shares of Scorpio Tankers from $65.00 to $70.00 and gave the company a "buy" rating in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $64.40.

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.

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