Marshall Wace LLP Makes New Investment in Scorpio Tankers Inc. (NYSE:STNG)

Marshall Wace LLP bought a new position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 225,204 shares of the shipping company's stock, valued at approximately $11,190,000. Marshall Wace LLP owned 0.45% of Scorpio Tankers at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STNG. MML Investors Services LLC acquired a new stake in Scorpio Tankers in the 3rd quarter worth about $203,000. Barclays PLC lifted its position in shares of Scorpio Tankers by 873.6% in the third quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock valued at $13,418,000 after acquiring an additional 168,866 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Scorpio Tankers by 5.3% in the third quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company's stock worth $54,768,000 after acquiring an additional 38,599 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Scorpio Tankers during the third quarter worth approximately $68,000. Finally, Tidal Investments LLC raised its stake in Scorpio Tankers by 54.3% in the 3rd quarter. Tidal Investments LLC now owns 54,816 shares of the shipping company's stock valued at $3,908,000 after purchasing an additional 19,298 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Wall Street Analyst Weigh In

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

Scorpio Tankers Trading Up 3.8 %

STNG traded up $1.35 on Friday, hitting $37.34. The company had a trading volume of 933,421 shares, compared to its average volume of 887,563. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.86 billion, a P/E ratio of 2.86 and a beta of -0.01. The company's fifty day moving average price is $37.91 and its 200 day moving average price is $48.06. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings results 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 net margin of 53.76% and a return on equity of 18.01%. As a group, equities analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued 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 4.28%. Scorpio Tankers's dividend payout ratio is presently 12.27%.

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.