TCW Group Inc. raised its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 190,692 shares of the shipping company's stock after buying an additional 14,500 shares during the quarter. TCW Group Inc. owned 0.38% of Scorpio Tankers worth $9,475,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mountaineer Partners Management LLC grew its position in Scorpio Tankers by 6,926.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company's stock valued at $596,912,000 after purchasing an additional 8,252,691 shares during the period. Assenagon Asset Management S.A. grew its holdings 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 valued at $10,020,000 after buying an additional 181,135 shares during the last quarter. Barclays PLC grew its holdings 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 valued at $13,418,000 after buying an additional 168,866 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Scorpio Tankers in the 3rd quarter worth about $8,459,000. Finally, Empowered Funds LLC bought a new position in Scorpio Tankers in the 4th quarter valued at about $5,621,000. 54.64% of the stock is currently owned by institutional investors.
Scorpio Tankers Stock Performance
Shares of NYSE STNG traded down $1.25 during midday trading on Thursday, hitting $39.52. The company's stock had a trading volume of 1,509,646 shares, compared to its average volume of 1,042,749. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 3.03 and a beta of 0.08. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $48.42 and a 200 day moving average price of $57.79. Scorpio Tankers Inc. has a one year low of $38.55 and a one year high of $84.67.
Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) 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%. On average, research analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.
Scorpio Tankers Dividend Announcement
The company 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 4.05%. Scorpio Tankers's dividend payout ratio (DPR) is currently 12.27%.
Analysts Set New Price Targets
A number of research firms have recently commented on STNG. Jefferies Financial Group reiterated a "buy" rating and set a $75.00 target price on shares of Scorpio Tankers in a research note on Thursday, February 13th. Stifel Nicolaus lowered their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research report on Friday, February 14th. Finally, Evercore ISI reduced their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $68.75.
Check Out Our Latest Analysis on STNG
Scorpio Tankers Company Profile
(
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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