Scorpio Tankers Inc. (NYSE:STNG) Shares Acquired by First Eagle Investment Management LLC

First Eagle Investment Management LLC boosted its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 46.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,568 shares of the shipping company's stock after acquiring an additional 70,300 shares during the quarter. First Eagle Investment Management LLC owned 0.44% of Scorpio Tankers worth $11,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Scorpio Tankers by 204.1% in the 4th 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 boosted its stake in shares of Scorpio Tankers by 75.8% in the 4th 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. PNC Financial Services Group Inc. boosted its stake in shares of Scorpio Tankers by 40.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock valued at $46,000 after buying an additional 266 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Scorpio Tankers by 850.5% in the 4th 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. Finally, AM Squared Ltd purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at about $64,000. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

STNG has been the subject of several recent research reports. Stifel Nicolaus decreased their price objective on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Jefferies Financial Group reiterated a "buy" rating and issued a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Scorpio Tankers has a consensus rating of "Hold" and a consensus price target of $68.75.

Scorpio Tankers Stock Up 1.8 %

Shares of NYSE STNG traded up $0.73 during midday trading on Wednesday, hitting $41.51. 980,870 shares of the company's stock were exchanged, compared to its average volume of 819,179. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. Scorpio Tankers Inc. has a twelve month low of $37.14 and a twelve month high of $84.67. The company has a market cap of $2.10 billion, a PE ratio of 3.18 and a beta of 0.01. The firm's fifty day simple moving average is $45.63 and its 200-day simple moving average is $54.47.

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

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.85%. The ex-dividend date is Friday, March 7th. Scorpio Tankers's dividend payout ratio (DPR) is 12.27%.

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.