Townsquare Capital LLC Makes New $527,000 Investment in Scorpio Tankers Inc. (NYSE:STNG)

Townsquare Capital LLC acquired a new position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,607 shares of the shipping company's stock, valued at approximately $527,000.

Several other large investors also recently added to or reduced their stakes in STNG. FMR LLC raised its stake in Scorpio Tankers by 266.2% during the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company's stock worth $129,870,000 after acquiring an additional 1,899,981 shares during the period. Vanguard Group Inc. raised its position in shares of Scorpio Tankers by 22.3% during the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company's stock valued at $124,786,000 after purchasing an additional 458,120 shares during the period. American Century Companies Inc. lifted its stake in shares of Scorpio Tankers by 10.9% during the 4th quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company's stock valued at $77,437,000 after buying an additional 153,267 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Scorpio Tankers by 5.3% in the 3rd 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, Norges Bank purchased a new stake in Scorpio Tankers in the 4th quarter worth $30,374,000. 54.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STNG. Stifel Nicolaus lowered their price objective on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research report on Friday, February 14th. Evercore ISI dropped their price target on Scorpio Tankers from $64.00 to $60.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $75.00 price objective on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Scorpio Tankers has an average rating of "Hold" and a consensus target price of $63.75.

Scorpio Tankers Trading Up 2.2 %

STNG stock traded up $0.76 during midday trading on Thursday, reaching $35.97. 594,278 shares of the company traded hands, compared to its average volume of 885,099. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 2.76 and a beta of -0.01. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $84.67. The business has a 50 day moving average of $38.07 and a 200-day moving average of $48.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted 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%. As a group, sell-side analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 4.45%. Scorpio Tankers's dividend payout ratio (DPR) is presently 12.27%.

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.