Raymond James Financial Inc. Purchases New Shares in Scorpio Tankers Inc. (NYSE:STNG)

Raymond James Financial Inc. purchased a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,757 shares of the shipping company's stock, valued at approximately $684,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its stake in shares of Scorpio Tankers by 266.2% in the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company's stock worth $129,870,000 after purchasing an additional 1,899,981 shares during the period. Norges Bank bought a new stake in shares of Scorpio Tankers during the 4th quarter valued at $30,374,000. Vanguard Group Inc. grew its position in shares of Scorpio Tankers by 22.3% during the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company's stock valued at $124,786,000 after acquiring an additional 458,120 shares during the period. Assenagon Asset Management S.A. increased its position in Scorpio Tankers by 882.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company's stock worth $10,020,000 after buying an additional 181,135 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Scorpio Tankers by 873.6% during the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock valued at $13,418,000 after buying an additional 168,866 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Price Performance

Shares of STNG stock traded down $0.53 during trading hours on Tuesday, hitting $41.58. The stock had a trading volume of 195,807 shares, compared to its average volume of 1,037,047. The stock's 50-day moving average price is $37.48 and its two-hundred day moving average price is $45.61. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $84.67. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 3.19 and a beta of -0.12. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39.

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

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.85%. Scorpio Tankers's payout ratio is currently 15.76%.

Analysts Set New Price Targets

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

About Scorpio Tankers

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.