Royce & Associates LP Buys 49,840 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Royce & Associates LP increased its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 33.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 200,498 shares of the shipping company’s stock after purchasing an additional 49,840 shares during the quarter. Royce & Associates LP’s holdings in Scorpio Tankers were worth $9,963,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in shares of Scorpio Tankers by 882.8% during 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 purchasing an additional 181,135 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Scorpio Tankers in the third quarter valued at about $8,459,000. Mountaineer Partners Management LLC lifted its stake in Scorpio Tankers by 6,926.8% during the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after purchasing an additional 8,252,691 shares during the period. Geode Capital Management LLC boosted its holdings in Scorpio Tankers by 5.3% during the third quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock valued at $54,768,000 after purchasing an additional 38,599 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Scorpio Tankers by 873.6% in the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after purchasing an additional 168,866 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on STNG shares. Stifel Nicolaus decreased their price target 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. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $68.75.

Scorpio Tankers Price Performance

Shares of STNG stock opened at $40.33 on Tuesday. The stock’s fifty day moving average is $45.88 and its 200-day moving average is $54.69. 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 $37.14 and a 52 week high of $84.67. The stock has a market capitalization of $2.04 billion, a PE ratio of 3.09 and a beta of 0.01.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share 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 expect that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Friday, March 7th. Scorpio Tankers’s dividend payout ratio is 12.27%.

Scorpio Tankers Company 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.