Royce & Associates LP Purchases 49,840 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Royce & Associates LP lifted its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 33.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,498 shares of the shipping company's stock after buying an additional 49,840 shares during the quarter. Royce & Associates LP owned about 0.40% of Scorpio Tankers worth $9,963,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mountaineer Partners Management LLC lifted its position in shares of Scorpio Tankers by 6,926.8% during the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company's stock worth $596,912,000 after acquiring an additional 8,252,691 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Scorpio Tankers by 882.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company's stock valued at $10,020,000 after purchasing an additional 181,135 shares during the period. Barclays PLC raised its stake in shares of Scorpio Tankers by 873.6% during the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock valued at $13,418,000 after purchasing an additional 168,866 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Scorpio Tankers during the 3rd quarter worth about $8,459,000. Finally, Empowered Funds LLC bought a new position in Scorpio Tankers in the 4th quarter worth about $5,621,000. 54.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group reiterated a "buy" rating and set a $75.00 price target on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus decreased their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $68.75.

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Scorpio Tankers Price Performance

NYSE STNG traded down $2.47 during trading on Friday, reaching $39.71. The company's stock had a trading volume of 2,353,581 shares, compared to its average volume of 821,510. The firm has a fifty day moving average of $45.21 and a 200 day moving average of $54.30. Scorpio Tankers Inc. has a one year low of $37.14 and a one year high of $84.67. The stock has a market capitalization of $2.01 billion, a PE ratio of 3.05 and a beta of 0.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings data 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%. Analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Friday, March 7th. Scorpio Tankers's dividend payout ratio (DPR) is currently 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.