Ruffer LLP purchased a new position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,353 shares of the shipping company's stock, valued at approximately $962,000.
Several other large investors also recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its position in shares of 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 buying an additional 181,135 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Scorpio Tankers during the third quarter worth about $8,459,000. Mountaineer Partners Management LLC boosted 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 buying an additional 8,252,691 shares during the period. Geode Capital Management LLC boosted its position 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 buying an additional 38,599 shares during the period. Finally, Barclays PLC boosted its position in shares of Scorpio Tankers by 873.6% during the third quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock worth $13,418,000 after buying an additional 168,866 shares during the period. 54.64% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages recently commented on STNG. Jefferies Financial Group reissued 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 reduced their price target on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Scorpio Tankers currently has an average rating of "Hold" and an average price target of $68.75.
Read Our Latest Stock Analysis on STNG
Scorpio Tankers Stock Performance
Shares of STNG traded up $0.75 during mid-day trading on Thursday, reaching $38.79. The company's stock had a trading volume of 701,074 shares, compared to its average volume of 1,046,645. Scorpio Tankers Inc. has a 1-year low of $37.14 and a 1-year high of $84.67. The stock has a market cap of $1.96 billion, a P/E ratio of 2.97 and a beta of 0.01. The business has a 50-day simple moving average of $46.44 and a two-hundred day simple moving average of $55.46. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25.
Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. As a group, equities research analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.
Scorpio Tankers Announces Dividend
The firm 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 $0.40 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.13%. 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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