Geode Capital Management LLC increased its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 5.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 768,129 shares of the shipping company's stock after purchasing an additional 38,599 shares during the period. Geode Capital Management LLC owned 1.52% of Scorpio Tankers worth $54,768,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Truist Financial Corp raised its position in Scorpio Tankers by 1.4% during the 2nd quarter. Truist Financial Corp now owns 10,933 shares of the shipping company's stock worth $889,000 after buying an additional 149 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Scorpio Tankers by 34.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company's stock worth $57,000 after acquiring an additional 177 shares during the period. Quarry LP raised its holdings in Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company's stock worth $54,000 after purchasing an additional 229 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in Scorpio Tankers by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company's stock valued at $863,000 after purchasing an additional 252 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock valued at $25,000 after purchasing an additional 291 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.
Scorpio Tankers Price Performance
Shares of STNG stock traded up $1.67 during mid-day trading on Monday, reaching $49.16. The stock had a trading volume of 1,738,010 shares, compared to its average volume of 918,592. The company has a market cap of $2.48 billion, a P/E ratio of 3.52 and a beta of 0.13. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. Scorpio Tankers Inc. has a 12-month low of $45.94 and a 12-month high of $84.67. The business has a 50-day simple moving average of $54.70 and a 200 day simple moving average of $67.41.
Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.14. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The firm had revenue of $267.99 million during the quarter, compared to the consensus estimate of $267.91 million. During the same period last year, the firm posted $1.91 EPS. The firm's revenue for the quarter was down 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.
Scorpio Tankers Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.60 annualized dividend and a dividend yield of 3.25%. Scorpio Tankers's dividend payout ratio is currently 11.47%.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. Fearnley Fonds raised Scorpio Tankers to a "hold" rating in a research note on Friday, September 27th. Bank of America cut their price objective on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a research report on Tuesday, October 22nd. Stifel Nicolaus lowered shares of Scorpio Tankers from a "buy" rating to a "hold" rating and decreased their target price for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Evercore ISI lowered their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group reduced their price objective on shares of Scorpio Tankers from $80.00 to $75.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $75.40.
Get Our Latest Stock Analysis on STNG
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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