International Assets Investment Management LLC Increases Holdings in Scorpio Tankers Inc. (NYSE:STNG)

International Assets Investment Management LLC boosted its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 8,249.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,880,188 shares of the shipping company's stock after buying an additional 1,857,668 shares during the period. International Assets Investment Management LLC owned approximately 3.54% of Scorpio Tankers worth $134,057,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new position in Scorpio Tankers in the 1st quarter valued at $596,000. BNP Paribas Financial Markets lifted its holdings in Scorpio Tankers by 37.0% in the first quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company's stock valued at $6,356,000 after acquiring an additional 23,975 shares during the period. Acadian Asset Management LLC lifted its holdings in Scorpio Tankers by 101.4% in the first quarter. Acadian Asset Management LLC now owns 19,456 shares of the shipping company's stock valued at $1,391,000 after acquiring an additional 9,798 shares during the period. Cetera Investment Advisers acquired a new stake in Scorpio Tankers in the first quarter valued at $2,107,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Scorpio Tankers by 354.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,439 shares of the shipping company's stock worth $3,896,000 after buying an additional 42,451 shares in the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STNG has been the topic of a number of recent research reports. StockNews.com lowered shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Evercore ISI increased their price objective on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday, July 23rd. Stifel Nicolaus downgraded shares of Scorpio Tankers from a "buy" rating to a "hold" rating and lowered their price objective for the company from $90.00 to $65.00 in a research report on Wednesday. Finally, Bank of America lowered their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a research report on Tuesday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $82.40.

Scorpio Tankers Stock Up 1.1 %

Shares of Scorpio Tankers stock traded up $0.69 on Friday, hitting $62.02. 610,429 shares of the company's stock traded hands, compared to its average volume of 905,779. The stock has a market cap of $3.38 billion, a P/E ratio of 5.75, a PEG ratio of 1.81 and a beta of 0.15. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The firm's 50-day moving average is $69.32 and its 200 day moving average is $74.19. Scorpio Tankers Inc. has a 52-week low of $52.68 and a 52-week high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.52 by $0.08. The company had revenue of $380.70 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $2.41 EPS. Equities analysts anticipate that Scorpio Tankers Inc. will post 12.43 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.58%. The ex-dividend date was Thursday, August 15th. Scorpio Tankers's dividend payout ratio (DPR) is presently 14.84%.

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.