Victory Capital Management Inc. Acquires 111,270 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Victory Capital Management Inc. increased its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 78.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,966 shares of the shipping company's stock after buying an additional 111,270 shares during the quarter. Victory Capital Management Inc. owned about 0.51% of Scorpio Tankers worth $9,544,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Signaturefd LLC boosted its holdings in shares of 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 purchasing an additional 372 shares in the last quarter. CWM LLC boosted its holdings in shares of Scorpio Tankers by 180.3% in the 1st quarter. CWM LLC now owns 4,959 shares of the shipping company's stock valued at $186,000 after purchasing an additional 3,190 shares in the last quarter. Moody Aldrich Partners LLC boosted its holdings in shares of Scorpio Tankers by 32.4% in the 1st quarter. Moody Aldrich Partners LLC now owns 40,502 shares of the shipping company's stock valued at $1,522,000 after purchasing an additional 9,902 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Scorpio Tankers by 7.5% in the 1st quarter. Principal Financial Group Inc. now owns 48,771 shares of the shipping company's stock valued at $1,833,000 after purchasing an additional 3,394 shares in the last quarter. Finally, Rossby Financial LCC acquired a new stake in shares of Scorpio Tankers in the 1st quarter valued at $165,000. Institutional investors and hedge funds own 54.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on STNG shares. Evercore ISI reduced their target price on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $65.00 price objective on shares of Scorpio Tankers in a report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $60.50.

Scorpio Tankers Price Performance

Shares of NYSE STNG traded up $0.48 during mid-day trading on Monday, hitting $44.57. 97,708 shares of the stock traded hands, compared to its average volume of 1,045,792. The company has a market cap of $2.27 billion, a PE ratio of 4.38 and a beta of -0.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.20 and a quick ratio of 4.12. Scorpio Tankers Inc. has a twelve month low of $30.63 and a twelve month high of $77.83. The firm has a 50 day simple moving average of $41.91 and a two-hundred day simple moving average of $41.70.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its earnings results on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.32. The business had revenue of $204.20 million during the quarter, compared to analyst estimates of $205.89 million. Scorpio Tankers had a return on equity of 12.30% and a net margin of 48.08%. Scorpio Tankers's revenue for the quarter was down 45.3% compared to the same quarter last year. During the same period last year, the company earned $3.97 EPS. As a group, equities research analysts forecast 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 was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.59%. The ex-dividend date was Friday, May 30th. Scorpio Tankers's dividend payout ratio is currently 15.76%.

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.