Barclays PLC Grows Stock Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Barclays PLC grew its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 873.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 188,195 shares of the shipping company's stock after acquiring an additional 168,866 shares during the quarter. Barclays PLC owned about 0.37% of Scorpio Tankers worth $13,418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in STNG. EverSource Wealth Advisors LLC increased its stake in Scorpio Tankers by 970.0% in the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock valued at $25,000 after purchasing an additional 291 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Scorpio Tankers in the 3rd quarter valued at $28,000. Fifth Third Bancorp grew its position in shares of Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company's stock valued at $34,000 after buying an additional 319 shares during the last quarter. Quarry LP raised its stake in Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company's stock worth $54,000 after acquiring an additional 229 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. raised its stake in Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company's stock worth $57,000 after acquiring an additional 177 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Scorpio Tankers Stock Performance

Shares of NYSE:STNG traded down $0.83 during trading on Monday, reaching $47.48. The company had a trading volume of 1,023,941 shares, compared to its average volume of 914,458. Scorpio Tankers Inc. has a fifty-two week low of $46.66 and a fifty-two week high of $84.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The stock's fifty day moving average price is $57.02 and its 200 day moving average price is $68.57. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 3.40 and a beta of 0.13.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.14. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The company had revenue of $267.99 million for the quarter, compared to analysts' expectations of $267.91 million. During the same period in the previous year, the company posted $1.91 EPS. Scorpio Tankers's revenue was down 8.0% compared to the same quarter last year. As a group, equities research analysts predict that Scorpio Tankers Inc. will post 11.04 EPS for the current year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.37%. Scorpio Tankers's payout ratio is currently 11.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on STNG shares. Stifel Nicolaus downgraded shares of Scorpio Tankers from a "buy" rating to a "hold" rating and decreased their price objective for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Bank of America dropped their price target on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 22nd. Jefferies Financial Group cut their price target on Scorpio Tankers from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Thursday. Evercore ISI decreased their price objective on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Finally, Fearnley Fonds raised shares of Scorpio Tankers to a "hold" rating in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $75.40.

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.