Vanguard Group Inc. Boosts Stock Holdings in Scorpio Tankers Inc. $STNG

Key Points

• Vanguard Group Inc. increased its stake in Scorpio Tankers Inc. by 6.7% to approximately $100.66 million, owning over 2.67 million shares as of the latest SEC filing.
• Scorpio Tankers reported $1.41 earnings per share for the last quarter, exceeding analyst expectations significantly, although their revenue dropped by 39.5% year-over-year.
• The company announced a quarterly $0.40 dividend set to be paid on August 29th, with an annualized yield of 3.3%.

Vanguard Group Inc. boosted its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,678,503 shares of the shipping company's stock after acquiring an additional 167,218 shares during the quarter. Vanguard Group Inc. owned 5.25% of Scorpio Tankers worth $100,658,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Rhumbline Advisers grew its stake in shares of Scorpio Tankers by 10.7% during the 1st quarter. Rhumbline Advisers now owns 84,174 shares of the shipping company's stock worth $3,163,000 after purchasing an additional 8,170 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Scorpio Tankers by 24.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 15,114 shares of the shipping company's stock worth $576,000 after buying an additional 2,971 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Scorpio Tankers by 78.0% during the first quarter. Victory Capital Management Inc. now owns 253,966 shares of the shipping company's stock worth $9,544,000 after buying an additional 111,270 shares in the last quarter. Principal Financial Group Inc. grew its position in Scorpio Tankers by 7.5% during the first quarter. Principal Financial Group Inc. now owns 48,771 shares of the shipping company's stock valued at $1,833,000 after buying an additional 3,394 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Scorpio Tankers by 1,650.4% in the first quarter. GAMMA Investing LLC now owns 10,485 shares of the shipping company's stock valued at $394,000 after buying an additional 9,886 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Trading Down 0.5%

Shares of Scorpio Tankers stock traded down $0.24 during trading hours on Monday, hitting $48.73. The company's stock had a trading volume of 509,097 shares, compared to its average volume of 1,077,233. 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 stock has a market cap of $2.49 billion, a price-to-earnings ratio of 10.16 and a beta of -0.03. The firm has a fifty day moving average of $44.37 and a 200-day moving average of $41.13. Scorpio Tankers Inc. has a twelve month low of $30.63 and a twelve month high of $74.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly 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. The business 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 revenue was down 39.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.60 EPS. Research analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders 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 dividend yield of 3.3%. Scorpio Tankers's payout ratio is presently 21.80%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Jefferies Financial Group reiterated a "buy" rating and issued a $65.00 price objective on shares of Scorpio Tankers in a research report on Wednesday, July 30th. Evercore ISI dropped their price target on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Fearnley Fonds upgraded shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Scorpio Tankers has a consensus rating of "Moderate Buy" and a consensus price target 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.