Scorpio Tankers Inc. (NYSE:STNG) Shares Purchased by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC boosted its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 34.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,187 shares of the shipping company's stock after buying an additional 31,649 shares during the period. Scorpio Tankers makes up about 1.3% of Moody Aldrich Partners LLC's investment portfolio, making the stock its 15th largest holding. Moody Aldrich Partners LLC owned 0.22% of Scorpio Tankers worth $7,490,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Scorpio Tankers by 94.4% during the third quarter. FMR LLC now owns 2,334,754 shares of the shipping company's stock valued at $126,357,000 after purchasing an additional 1,133,900 shares during the period. International Assets Investment Management LLC raised its position in Scorpio Tankers by 4,706.2% during the fourth quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company's stock valued at $59,025,000 after purchasing an additional 950,600 shares during the period. Millennium Management LLC raised its position in Scorpio Tankers by 810.7% during the second quarter. Millennium Management LLC now owns 553,021 shares of the shipping company's stock valued at $19,085,000 after purchasing an additional 492,296 shares during the period. Packer & Co Ltd purchased a new stake in shares of Scorpio Tankers in the third quarter worth approximately $25,599,000. Finally, Norges Bank purchased a new stake in shares of Scorpio Tankers in the fourth quarter worth approximately $23,348,000. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Price Performance

STNG stock traded down $1.85 on Tuesday, reaching $68.97. 966,615 shares of the company's stock were exchanged, compared to its average volume of 1,228,371. The stock has a fifty day moving average of $69.18 and a 200-day moving average of $62.24. Scorpio Tankers Inc. has a twelve month low of $40.34 and a twelve month high of $74.04. The firm has a market cap of $3.66 billion, a PE ratio of 6.94 and a beta of 0.21. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.37.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The shipping company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.13. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. The business had revenue of $336.30 million for the quarter, compared to the consensus estimate of $335.70 million. During the same period in the prior year, the business earned $4.24 earnings per share. The business's revenue was down 31.9% on a year-over-year basis. As a group, equities analysts predict that Scorpio Tankers Inc. will post 12.3 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were paid a $0.40 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.32%. This is a positive change from Scorpio Tankers's previous quarterly dividend of $0.35. Scorpio Tankers's dividend payout ratio (DPR) is 16.10%.

Analysts Set New Price Targets

Several brokerages recently issued reports on STNG. JPMorgan Chase & Co. increased their price objective on Scorpio Tankers from $85.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, February 1st. StockNews.com lowered Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, February 23rd. Evercore ISI upped their price objective on Scorpio Tankers from $89.00 to $91.00 and gave the stock an "outperform" rating in a research report on Thursday, February 15th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $90.00 target price on shares of Scorpio Tankers in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.00.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 23, 2023, its fleet consisted of 113 owned, finance leased, or bareboat chartered-in tankers, including 39 LR2, 60 MR, and 14 Handymax with a weighted average age of approximately 7.2 years.