Ceredex Value Advisors LLC Buys New Position in Scorpio Tankers Inc. (NYSE:STNG)

Ceredex Value Advisors LLC purchased a new stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 104,900 shares of the shipping company's stock, valued at approximately $7,479,000. Ceredex Value Advisors LLC owned approximately 0.19% of Scorpio Tankers as of its most recent SEC filing.

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

Scorpio Tankers Stock Up 0.2 %

Shares of STNG traded up $0.12 on Friday, hitting $58.39. 791,144 shares of the stock traded hands, compared to its average volume of 892,173. Scorpio Tankers Inc. has a one year low of $52.68 and a one year high of $84.67. The company has a market capitalization of $2.95 billion, a PE ratio of 4.19 and a beta of 0.18. The business has a 50 day simple moving average of $68.11 and a 200 day simple moving average of $73.79. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.63 and a current ratio of 2.21.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.14. The business had revenue of $267.99 million during the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company's quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.91 EPS. As a group, equities analysts forecast that Scorpio Tankers Inc. will post 11.13 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers's dividend payout ratio (DPR) is 11.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on STNG shares. Fearnley Fonds raised shares of Scorpio Tankers to a "hold" rating in a research note on Friday, September 27th. Bank of America lowered their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a report on Tuesday, October 22nd. Stifel Nicolaus downgraded Scorpio Tankers from a "buy" rating to a "hold" rating and cut their price target for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. StockNews.com cut Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $78.40.

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.