Townsquare Capital LLC Purchases New Position in Scorpio Tankers Inc. (NYSE:STNG)

Townsquare Capital LLC bought a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 10,607 shares of the shipping company's stock, valued at approximately $527,000.

Other large investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake 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 valued at $10,020,000 after buying an additional 181,135 shares during the period. Norges Bank bought a new stake in shares of Scorpio Tankers in the 4th quarter valued at about $30,374,000. Geode Capital Management LLC raised its position in shares of Scorpio Tankers by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company's stock valued at $54,768,000 after acquiring an additional 38,599 shares during the period. Barclays PLC boosted its stake in Scorpio Tankers by 873.6% during the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock worth $13,418,000 after acquiring an additional 168,866 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Scorpio Tankers during the fourth quarter valued at approximately $684,000. Institutional investors and hedge funds own 54.64% of the company's stock.

Scorpio Tankers Stock Up 2.9 %

STNG traded up $1.05 on Friday, hitting $37.04. 355,375 shares of the company were exchanged, compared to its average volume of 1,046,568. The stock's fifty day moving average is $37.91 and its 200-day moving average is $48.06. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $84.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The company has a market cap of $1.85 billion, a PE ratio of 2.84 and a beta of -0.01.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. Equities research analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Friday, March 7th. Scorpio Tankers's dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on STNG shares. Evercore ISI cut their target price on shares of Scorpio Tankers from $64.00 to $60.00 and set an "outperform" rating on the stock in a report on Tuesday. Stifel Nicolaus dropped their price objective on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $75.00 target price on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $63.75.

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.