Victory Capital Management Inc. Raises Position in Scorpio Tankers Inc. $STNG

Key Points

• Victory Capital Management Inc. raised its stake in Scorpio Tankers by 7.1% in Q3, adding 83,294 shares to hold 1,249,834 shares (about 2.45% of the company) worth roughly $70.05 million, signaling continued institutional buying.
• Earnings beat: Scorpio Tankers reported $1.62 EPS versus $1.37 expected and revenue of $252.65 million (up 23.8% YoY) with a 36.7% net margin, while analysts forecast full‑year EPS of about 5.29.
• Dividend increase: the company raised its quarterly dividend to $0.45 (annualized $1.80, ~2.3% yield; ex‑dividend March 6), and the stock carries a consensus "Moderate Buy" with an average target near $79.67.

Victory Capital Management Inc. raised its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 7.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,249,834 shares of the shipping company's stock after purchasing an additional 83,294 shares during the quarter. Victory Capital Management Inc. owned approximately 2.45% of Scorpio Tankers worth $70,053,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its stake in Scorpio Tankers by 110.3% in the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company's stock valued at $26,000 after purchasing an additional 246 shares in the last quarter. Clearstead Advisors LLC grew its position in Scorpio Tankers by 67.9% during the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company's stock worth $28,000 after acquiring an additional 205 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Scorpio Tankers in the third quarter worth $36,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Scorpio Tankers in the third quarter valued at about $41,000. Finally, Spire Wealth Management raised its position in Scorpio Tankers by 77.1% during the 2nd quarter. Spire Wealth Management now owns 758 shares of the shipping company's stock valued at $30,000 after purchasing an additional 330 shares during the last quarter. 54.64% of the stock is owned by institutional investors.

Scorpio Tankers Trading Down 1.7%

Shares of STNG opened at $78.79 on Friday. Scorpio Tankers Inc. has a twelve month low of $30.63 and a twelve month high of $81.85. The company's fifty day simple moving average is $63.62 and its 200-day simple moving average is $58.83. The company has a market cap of $4.08 billion, a P/E ratio of 11.14 and a beta of -0.31. The company has a current ratio of 9.33, a quick ratio of 9.23 and a debt-to-equity ratio of 0.19.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The shipping company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.25. Scorpio Tankers had a net margin of 36.70% and a return on equity of 8.85%. The company had revenue of $252.65 million during the quarter, compared to analyst estimates of $238.93 million. During the same quarter last year, the business posted $0.63 EPS. The firm's revenue for the quarter was up 23.8% on a year-over-year basis. As a group, analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. This is an increase from Scorpio Tankers's previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 6th. Scorpio Tankers's dividend payout ratio is currently 23.76%.

Analyst Upgrades and Downgrades

Several analysts have commented on STNG shares. B. Riley Financial restated a "buy" rating on shares of Scorpio Tankers in a report on Friday, February 13th. BTIG Research lifted their target price on shares of Scorpio Tankers from $80.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Moffett Nathanson upgraded shares of Scorpio Tankers to a "neutral" rating in a research note on Monday, January 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $83.00 price objective on shares of Scorpio Tankers in a research report on Friday, February 13th. Finally, Evercore reaffirmed an "outperform" rating and set a $83.00 price target on shares of Scorpio Tankers in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $79.67.

About Scorpio Tankers

Scorpio Tankers Inc NYSE: STNG is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.

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