Fmr LLC Acquires 1,899,981 Shares of Scorpio Tankers Inc. (NYSE:STNG)

FMR LLC raised its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 266.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,613,611 shares of the shipping company's stock after buying an additional 1,899,981 shares during the period. FMR LLC owned about 5.17% of Scorpio Tankers worth $129,870,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Scorpio Tankers in the 3rd quarter worth $332,000. HighTower Advisors LLC boosted its position in shares of Scorpio Tankers by 38.1% in the 3rd quarter. HighTower Advisors LLC now owns 12,041 shares of the shipping company's stock valued at $857,000 after purchasing an additional 3,322 shares during the period. MML Investors Services LLC purchased a new position in Scorpio Tankers in the 3rd quarter worth about $203,000. Barclays PLC raised its holdings 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 buying an additional 168,866 shares during the period. Finally, Geode Capital Management LLC lifted its stake 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 buying an additional 38,599 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Scorpio Tankers Stock Up 3.4 %

Shares of Scorpio Tankers stock traded up $1.17 on Friday, hitting $35.30. 481,932 shares of the company traded hands, compared to its average volume of 884,592. Scorpio Tankers Inc. has a 12-month low of $30.63 and a 12-month high of $84.67. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25. The company has a market cap of $1.76 billion, a PE ratio of 2.71 and a beta of -0.01. The company has a 50-day moving average price of $38.99 and a 200 day moving average price of $49.36.

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

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 4.53%. Scorpio Tankers's payout ratio is 12.27%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Stifel Nicolaus decreased their target price on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Jefferies Financial Group restated a "buy" rating and set a $75.00 price objective on shares of Scorpio Tankers in a research 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $68.75.

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.