Northern Trust Corp Acquires 12,139 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Northern Trust Corp raised its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 449,742 shares of the shipping company's stock after purchasing an additional 12,139 shares during the period. Northern Trust Corp owned 0.89% of Scorpio Tankers worth $22,348,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in STNG. GAMMA Investing LLC grew its position in Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after acquiring an additional 402 shares in the last quarter. Lindbrook Capital LLC raised its position in Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after purchasing an additional 263 shares in the last quarter. Covestor Ltd lifted its stake in Scorpio Tankers by 1,375.0% during the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company's stock worth $41,000 after purchasing an additional 770 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Scorpio Tankers by 40.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after purchasing an additional 266 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Scorpio Tankers by 850.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock worth $49,000 after purchasing an additional 876 shares in the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on STNG. Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Stifel Nicolaus lowered their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a report on Friday, February 14th. Evercore ISI reduced their target price on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $65.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Scorpio Tankers presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

Scorpio Tankers Trading Up 0.9%

Shares of NYSE:STNG traded up $0.36 during trading on Friday, reaching $42.05. 536,881 shares of the company traded hands, compared to its average volume of 899,143. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $84.67. The business's fifty day moving average is $37.69 and its 200-day moving average is $45.29. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 3.22 and a beta of -0.12.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.32. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The business had revenue of $204.20 million for the quarter, compared to analyst estimates of $205.89 million. During the same quarter last year, the firm earned $3.97 EPS. The company's revenue was down 45.3% on a year-over-year basis. As a group, analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 3.80%. Scorpio Tankers's dividend payout ratio is presently 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.