Portolan Capital Management LLC acquired a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 118,557 shares of the shipping company's stock, valued at approximately $5,891,000. Portolan Capital Management LLC owned 0.23% of Scorpio Tankers at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in STNG. Assenagon Asset Management S.A. boosted its position in Scorpio Tankers by 882.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company's stock worth $10,020,000 after purchasing an additional 181,135 shares during the period. Norges Bank acquired a new position in shares of Scorpio Tankers in the 4th quarter worth approximately $30,374,000. Geode Capital Management LLC grew its holdings in shares of Scorpio Tankers by 5.3% during the third quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company's stock worth $54,768,000 after purchasing an additional 38,599 shares during the last quarter. Barclays PLC increased its position in Scorpio Tankers by 873.6% in the 3rd 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. Finally, Raymond James Financial Inc. acquired a new position in Scorpio Tankers during the 4th quarter worth $684,000. Institutional investors own 54.64% of the company's stock.
Wall Street Analysts Forecast Growth
STNG has been the topic of several analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $75.00 price objective on shares of Scorpio Tankers in a report on Thursday, February 13th. Stifel Nicolaus reduced their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $68.75.
Check Out Our Latest Stock Report on STNG
Scorpio Tankers Price Performance
Shares of Scorpio Tankers stock traded up $1.17 during trading on Friday, reaching $35.30. 481,932 shares of the company's stock were exchanged, compared to its average volume of 884,592. 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 company has a market cap of $1.76 billion, a P/E ratio of 2.71 and a beta of -0.01. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $84.67. The firm's 50-day moving average price is $38.99 and its 200 day moving average price is $49.36.
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 for the quarter, missing the consensus estimate 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, research analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.
Scorpio Tankers Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date was Friday, March 7th. Scorpio Tankers's payout ratio is 12.27%.
About Scorpio Tankers
(
Free Report)
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.
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