Vanguard Personalized Indexing Management LLC Purchases 6,116 Shares of Scorpio Tankers Inc. $STNG

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Scorpio Tankers by 105.6%, acquiring an additional 6,116 shares, bringing its total holdings to 11,908 shares valued at $466,000.
• Scorpio Tankers reported earnings of $1.41 per share for the last quarter, surpassing analysts' expectations of $1.03, though its revenue has decreased by 39.5% year-over-year.
• The company announced a quarterly dividend of $0.40 per share, resulting in an annual dividend yield of 2.7% and a payout ratio of 21.80%.

Vanguard Personalized Indexing Management LLC grew its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 105.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,908 shares of the shipping company's stock after purchasing an additional 6,116 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Scorpio Tankers were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Empowered Funds LLC raised its holdings in shares of Scorpio Tankers by 47.0% in the 1st quarter. Empowered Funds LLC now owns 166,282 shares of the shipping company's stock worth $6,249,000 after acquiring an additional 53,153 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Scorpio Tankers by 10.7% in the 1st quarter. Rhumbline Advisers now owns 84,174 shares of the shipping company's stock worth $3,163,000 after acquiring an additional 8,170 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Scorpio Tankers by 24.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,114 shares of the shipping company's stock worth $576,000 after acquiring an additional 2,971 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Scorpio Tankers by 55.1% in the 1st quarter. AQR Capital Management LLC now owns 334,858 shares of the shipping company's stock worth $12,584,000 after acquiring an additional 119,000 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Scorpio Tankers by 17.8% in the 1st quarter. Invesco Ltd. now owns 137,600 shares of the shipping company's stock worth $5,171,000 after acquiring an additional 20,764 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Scorpio Tankers Stock Performance

NYSE STNG opened at $58.44 on Thursday. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $62.90. 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 stock has a market capitalization of $2.98 billion, a PE ratio of 7.96 and a beta of 0.01. The company's 50 day simple moving average is $54.36 and its two-hundred day simple moving average is $45.55.

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, topping the consensus estimate of $1.03 by $0.38. Scorpio Tankers had a net margin of 39.18% and a return on equity of 8.08%. The business had revenue of $222.76 million for the quarter, compared to analysts' expectations of $219.26 million. During the same period in the prior year, the company posted $3.60 EPS. The business's revenue for the quarter was down 39.5% compared to the same quarter last year. Analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Wednesday, August 13th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, August 13th. This represents a $1.60 annualized dividend and a dividend yield of 2.7%. Scorpio Tankers's dividend payout ratio (DPR) is 21.80%.

Wall Street Analyst Weigh In

STNG has been the subject of several analyst reports. B. Riley reiterated a "buy" rating and issued a $80.00 price objective (up previously from $75.00) on shares of Scorpio Tankers in a research note on Thursday, October 16th. Bank of America increased their price objective on shares of Scorpio Tankers from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Zacks Research downgraded shares of Scorpio Tankers from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 17th. Weiss Ratings reissued a "hold (c)" rating on shares of Scorpio Tankers in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group increased their target price on shares of Scorpio Tankers from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Scorpio Tankers presently has an average rating of "Moderate Buy" and a consensus price target of $64.40.

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.

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