Vanguard Group Inc. lifted its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 22.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,511,285 shares of the shipping company's stock after buying an additional 458,120 shares during the quarter. Vanguard Group Inc. owned approximately 4.97% of Scorpio Tankers worth $124,786,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of STNG. U S Global Investors Inc. lifted its stake in Scorpio Tankers by 4.4% during the fourth quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company's stock worth $253,000 after purchasing an additional 215 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after buying an additional 263 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Scorpio Tankers by 40.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock valued at $46,000 after buying an additional 266 shares during the period. GAMMA Investing LLC raised its position in shares of Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after buying an additional 402 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Scorpio Tankers by 0.7% in the fourth quarter. Rhumbline Advisers now owns 76,004 shares of the shipping company's stock valued at $3,777,000 after acquiring an additional 559 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.
Scorpio Tankers Price Performance
Shares of NYSE:STNG traded up $2.39 on Friday, reaching $35.68. 910,402 shares of the company traded hands, compared to its average volume of 884,862. The stock has a market capitalization of $1.78 billion, a PE ratio of 2.74 and a beta of -0.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The company's 50 day moving average is $40.10 and its 200-day moving average is $50.09. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $84.67.
Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings results 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, analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.
Scorpio Tankers Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.48%. Scorpio Tankers's dividend payout ratio is currently 12.27%.
Analyst Ratings Changes
STNG has been the subject of a number of research analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus decreased their target price on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Four investment 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 stock currently has a consensus rating of "Hold" and a consensus price target of $68.75.
View Our Latest Report 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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