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

Price T Rowe Associates Inc. MD boosted its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 12.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 92,820 shares of the shipping company's stock after purchasing 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 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock valued at $30,000 after buying an additional 402 shares during the period. Lindbrook Capital LLC raised its holdings in Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after buying an additional 263 shares during the period. Covestor Ltd increased its holdings in Scorpio Tankers by 1,375.0% in the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company's stock valued at $41,000 after purchasing an additional 770 shares in the last quarter. PNC Financial Services Group Inc. raised its position 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 valued at $46,000 after purchasing an additional 266 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Scorpio Tankers by 850.5% during 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 in the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Scorpio Tankers Stock Down 1.5 %

Shares of Scorpio Tankers stock traded down $0.60 during midday trading on Wednesday, reaching $40.08. 964,867 shares of the company's stock traded hands, compared to its average volume of 904,307. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. Scorpio Tankers Inc. has a 52 week low of $30.63 and a 52 week high of $84.67. The company's 50 day simple moving average is $37.41 and its 200 day simple moving average is $46.22. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 3.07 and a beta of -0.12.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, topping 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 business 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 firm's revenue for the quarter was down 45.3% on a year-over-year basis. Equities analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.99%. The ex-dividend date is Friday, May 30th. Scorpio Tankers's dividend payout ratio is 15.76%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. 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 research report on Friday, May 2nd. Stifel Nicolaus cut their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $65.00 price objective on shares of Scorpio Tankers in a research report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of "Hold" and a consensus target price 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.