Victory Capital Management Inc. lessened its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 85.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,479 shares of the shipping company's stock after selling 318,430 shares during the quarter. Victory Capital Management Inc. owned approximately 0.10% of Scorpio Tankers worth $3,742,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company's stock valued at $61,574,000 after buying an additional 549,395 shares in the last quarter. Quadrature Capital Ltd increased its stake in Scorpio Tankers by 39.6% during the 1st quarter. Quadrature Capital Ltd now owns 16,983 shares of the shipping company's stock worth $1,215,000 after buying an additional 4,816 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Scorpio Tankers by 354.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,439 shares of the shipping company's stock worth $3,896,000 after acquiring an additional 42,451 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Scorpio Tankers by 2.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 330,555 shares of the shipping company's stock worth $23,651,000 after purchasing an additional 9,207 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Scorpio Tankers by 17.7% in the first quarter. Tidal Investments LLC now owns 33,504 shares of the shipping company's stock valued at $2,397,000 after buying an additional 5,038 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.
Scorpio Tankers Trading Up 0.4 %
STNG traded up $0.23 on Friday, hitting $52.74. The company had a trading volume of 745,235 shares, compared to its average volume of 1,079,946. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.66 billion, a P/E ratio of 3.78 and a beta of 0.18. The company's fifty day moving average price is $63.84 and its 200 day moving average price is $72.08. Scorpio Tankers Inc. has a 1 year low of $52.07 and a 1 year high of $84.67.
Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $267.91 million. During the same period in the prior year, the business posted $1.91 EPS. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, equities analysts expect that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.
Scorpio Tankers Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a $0.40 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.03%. Scorpio Tankers's payout ratio is presently 11.47%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Jefferies Financial Group lowered their target price on Scorpio Tankers from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Evercore ISI dropped their target price on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Stifel Nicolaus lowered Scorpio Tankers from a "buy" rating to a "hold" rating and reduced their price target for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Fearnley Fonds raised shares of Scorpio Tankers to a "hold" rating in a report on Friday, September 27th. Finally, StockNews.com downgraded shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $76.40.
Read Our Latest Report on Scorpio Tankers
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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