Victory Capital Management Inc. Purchases 90,217 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Victory Capital Management Inc. raised its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 171.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 142,696 shares of the shipping company's stock after buying an additional 90,217 shares during the period. Victory Capital Management Inc. owned 0.28% of Scorpio Tankers worth $7,091,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC grew its position in shares of Scorpio Tankers by 6,926.8% during 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 acquiring an additional 8,252,691 shares during the period. Geode Capital Management LLC grew its position in shares of Scorpio Tankers by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company's stock valued at $54,768,000 after acquiring an additional 38,599 shares during the period. Assenagon Asset Management S.A. grew its position 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 acquiring an additional 181,135 shares during the period. TCW Group Inc. grew its position in shares of Scorpio Tankers by 8.2% during the 4th quarter. TCW Group Inc. now owns 190,692 shares of the shipping company's stock valued at $9,475,000 after acquiring an additional 14,500 shares during the period. Finally, Barclays PLC grew its position 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 acquiring an additional 168,866 shares during the period. Hedge funds and other institutional investors own 54.64% of the company's stock.

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Scorpio Tankers Stock Performance

STNG traded up $0.46 on Tuesday, hitting $40.76. The company's stock had a trading volume of 1,050,197 shares, compared to its average volume of 818,809. The company's 50 day simple moving average is $45.88 and its 200-day simple moving average is $54.69. The firm has a market cap of $2.06 billion, a P/E ratio of 3.13 and a beta of 0.01. Scorpio Tankers Inc. has a 12 month low of $37.14 and a 12 month high of $84.67. The company has a quick ratio of 2.39, a current ratio of 2.43 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 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%. Analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.93%. The ex-dividend date is Friday, March 7th. Scorpio Tankers's payout ratio is 12.27%.

Analyst Ratings Changes

STNG has been the subject of a number of research reports. Stifel Nicolaus reduced their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Jefferies Financial Group reissued a "buy" rating and set a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $68.75.

Scorpio Tankers Profile

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.