Martingale Asset Management L P Grows Position in Scorpio Tankers Inc. (NYSE:STNG)

Martingale Asset Management L P grew its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 96.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,139 shares of the shipping company's stock after purchasing an additional 34,440 shares during the quarter. Martingale Asset Management L P owned approximately 0.14% of Scorpio Tankers worth $3,485,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Legal & General Group Plc lifted its holdings in Scorpio Tankers by 21.4% during the fourth quarter. Legal & General Group Plc now owns 8,978 shares of the shipping company's stock worth $446,000 after acquiring an additional 1,583 shares during the period. FMR LLC raised its stake in shares of Scorpio Tankers by 266.2% during the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company's stock worth $129,870,000 after purchasing an additional 1,899,981 shares during the period. Aviva PLC raised its stake in shares of Scorpio Tankers by 30.3% during the 4th quarter. Aviva PLC now owns 12,040 shares of the shipping company's stock worth $598,000 after purchasing an additional 2,800 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Scorpio Tankers in the 4th quarter worth about $275,000. Finally, Franklin Resources Inc. grew its position in Scorpio Tankers by 28.1% during the fourth quarter. Franklin Resources Inc. now owns 73,409 shares of the shipping company's stock valued at $3,648,000 after buying an additional 16,116 shares during the period. Institutional investors own 54.64% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STNG. Jefferies Financial Group reissued a "buy" rating and set a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. 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 report on Friday, February 14th. Four research 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.com, the company presently has an average rating of "Hold" and a consensus price target of $68.75.

Scorpio Tankers Price Performance

STNG traded down $0.63 on Tuesday, reaching $33.70. The company had a trading volume of 235,979 shares, compared to its average volume of 882,071. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $84.67. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 2.58 and a beta of -0.01. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The business has a 50 day simple moving average of $39.80 and a 200 day simple moving average of $49.83.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released 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%. As a group, sell-side analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.75%. Scorpio Tankers's payout ratio is 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.