Price T Rowe Associates Inc. MD Has $4.61 Million Stake in Scorpio Tankers Inc. (NYSE:STNG)

Price T Rowe Associates Inc. MD grew its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,820 shares of the shipping company's stock after buying an additional 10,016 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.18% of Scorpio Tankers worth $4,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased 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 purchasing an additional 402 shares during the period. Lindbrook Capital LLC grew its position in shares of Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock worth $30,000 after buying an additional 263 shares during the period. Covestor Ltd raised its stake in shares of 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 buying an additional 770 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Scorpio Tankers by 40.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after buying an additional 266 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Scorpio Tankers by 850.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock valued at $49,000 after buying an additional 876 shares during the period. Institutional investors and hedge funds own 54.64% of the company's stock.

Scorpio Tankers Stock Up 1.1 %

Shares of STNG stock traded up $0.46 during trading hours on Friday, hitting $41.14. 626,906 shares of the company were exchanged, compared to its average volume of 899,634. Scorpio Tankers Inc. has a 52 week low of $30.63 and a 52 week high of $84.67. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average of $37.48 and a two-hundred day moving average of $45.72. The company has a market capitalization of $2.10 billion, a PE ratio of 3.15 and a beta of -0.12.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly 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 company had revenue of $204.20 million for the quarter, compared to analyst estimates of $205.89 million. During the same period in the previous year, the company posted $3.97 earnings per share. The company's quarterly revenue was down 45.3% compared to the same quarter last year. Analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently announced 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. This represents a $1.60 annualized dividend and a yield of 3.89%. The ex-dividend date is Friday, May 30th. Scorpio Tankers's payout ratio is 15.76%.

Wall Street Analysts Forecast Growth

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