16,724 Shares in Scorpio Tankers Inc. (NYSE:STNG) Acquired by Marshall Wace LLP

Marshall Wace LLP purchased a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,724 shares of the shipping company's stock, valued at approximately $1,359,000.

Several other large investors have also made changes to their positions in STNG. Epoch Investment Partners Inc. lifted its stake in Scorpio Tankers by 0.7% in the fourth quarter. Epoch Investment Partners Inc. now owns 22,685 shares of the shipping company's stock valued at $1,379,000 after buying an additional 150 shares during the period. AlphaMark Advisors LLC raised its position in shares of Scorpio Tankers by 5.9% during the first quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company's stock worth $358,000 after purchasing an additional 281 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock worth $25,000 after purchasing an additional 291 shares during the period. Fifth Third Bancorp raised its position in shares of Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company's stock worth $34,000 after purchasing an additional 319 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Scorpio Tankers by 5.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 6,679 shares of the shipping company's stock worth $543,000 after purchasing an additional 334 shares during the period. Institutional investors and hedge funds own 54.64% of the company's stock.

Scorpio Tankers Stock Up 0.3 %

STNG stock traded up $0.20 during mid-day trading on Monday, reaching $73.14. The company had a trading volume of 419,467 shares, compared to its average volume of 915,445. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. The stock has a 50 day simple moving average of $71.39 and a two-hundred day simple moving average of $74.66. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 6.78, a PEG ratio of 2.00 and a beta of 0.15. Scorpio Tankers Inc. has a 52 week low of $52.01 and a 52 week high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, beating analysts' consensus estimates of $3.52 by $0.08. The firm had revenue of $380.70 million during the quarter, compared to the consensus estimate of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The business's revenue was up 15.6% compared to the same quarter last year. During the same period last year, the company earned $2.41 earnings per share. As a group, equities analysts predict that Scorpio Tankers Inc. will post 12.71 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. Scorpio Tankers's dividend payout ratio is currently 14.84%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on STNG shares. Bank of America dropped their price target on Scorpio Tankers from $85.00 to $82.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 23rd. Fearnley Fonds raised Scorpio Tankers to a "hold" rating in a research report on Friday, September 27th. Stifel Nicolaus increased their price objective on Scorpio Tankers from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Jefferies Financial Group reiterated a "buy" rating and set a $90.00 price objective on shares of Scorpio Tankers in a report on Tuesday, July 30th. Finally, StockNews.com downgraded Scorpio Tankers from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.80.

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.