Citigroup Inc. Has $4.18 Million Position in Scorpio Tankers Inc. (NYSE:STNG)

Citigroup Inc. boosted its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 120.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,576 shares of the shipping company’s stock after acquiring an additional 31,960 shares during the period. Citigroup Inc.’s holdings in Scorpio Tankers were worth $4,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of Scorpio Tankers by 8,249.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock valued at $134,057,000 after acquiring an additional 1,857,668 shares during the last quarter. Vanguard Group Inc. lifted its stake in Scorpio Tankers by 176.6% in the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock valued at $61,574,000 after purchasing an additional 549,395 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Scorpio Tankers by 1,357.2% in the 2nd quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company’s stock valued at $23,034,000 after acquiring an additional 264,049 shares during the period. American Century Companies Inc. raised its holdings in Scorpio Tankers by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock valued at $96,391,000 after acquiring an additional 199,858 shares during the period. Finally, LSV Asset Management increased its holdings in shares of Scorpio Tankers by 8.5% during the second quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock worth $162,222,000 after purchasing an additional 156,414 shares during the period. 54.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their price objective for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Jefferies Financial Group dropped their price target on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Finally, Bank of America reduced their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $76.40.

Scorpio Tankers Trading Up 3.2 %

STNG stock opened at $51.81 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. Scorpio Tankers Inc. has a 12 month low of $49.16 and a 12 month high of $84.67. The firm’s 50-day moving average is $61.24 and its 200 day moving average is $70.66. The company has a market capitalization of $2.62 billion, a PE ratio of 3.71 and a beta of 0.13.

Scorpio Tankers (NYSE:STNG) 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 analyst estimates of $267.91 million. During the same period in the previous year, the firm earned $1.91 EPS. The business’s quarterly revenue was down 8.0% on a year-over-year basis. On average, research analysts anticipate that Scorpio Tankers Inc. will post 11.04 EPS for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.09%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.47%.

About Scorpio Tankers

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.