Northern Trust Corp Increases Position in Scorpio Tankers Inc. (NYSE:STNG)

Northern Trust Corp boosted its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 449,742 shares of the shipping company's stock after buying an additional 12,139 shares during the period. Northern Trust Corp owned approximately 0.89% of Scorpio Tankers worth $22,348,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. 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 lifted its stake in Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock worth $30,000 after purchasing an additional 263 shares during the last quarter. Covestor Ltd lifted its stake in Scorpio Tankers by 1,375.0% in 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. lifted its stake in Scorpio Tankers by 40.1% in the fourth 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 during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Scorpio Tankers by 850.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock worth $49,000 after purchasing an additional 876 shares during the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Trading Up 0.9%

Shares of NYSE:STNG traded up $0.36 during midday trading on Friday, hitting $42.05. 536,881 shares of the stock traded hands, compared to its average volume of 899,497. The stock has a market capitalization of $2.15 billion, a PE ratio of 3.22 and a beta of -0.12. The business's 50 day moving average is $37.76 and its two-hundred day moving average is $44.99. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.71 by $0.32. The firm had revenue of $204.20 million during the quarter, compared to the consensus estimate of $205.89 million. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The company's quarterly revenue was down 45.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.97 earnings per share. As a group, research analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Friday, May 30th. Scorpio Tankers's dividend payout ratio is currently 15.76%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Evercore ISI lowered their price target on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Fearnley Fonds raised shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Stifel Nicolaus lowered their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $65.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 1st. Three 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

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.