Scorpio Tankers Inc. (NYSE:STNG) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 8.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,293 shares of the shipping company’s stock after acquiring an additional 4,407 shares during the period. Franklin Resources Inc. owned about 0.11% of Scorpio Tankers worth $3,985,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James & Associates boosted its stake in shares of Scorpio Tankers by 4.4% in the second quarter. Raymond James & Associates now owns 55,120 shares of the shipping company’s stock valued at $4,481,000 after purchasing an additional 2,302 shares during the period. Fifth Third Bancorp boosted its position in Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after buying an additional 319 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Scorpio Tankers by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 185,204 shares of the shipping company’s stock worth $15,055,000 after acquiring an additional 7,560 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Scorpio Tankers by 222.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 28,339 shares of the shipping company’s stock worth $2,304,000 after acquiring an additional 19,562 shares during the period. Finally, TrueMark Investments LLC acquired a new stake in shares of Scorpio Tankers in the second quarter valued at $1,874,000. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Performance

NYSE STNG opened at $49.77 on Wednesday. The company has a fifty day moving average of $54.70 and a two-hundred day moving average of $67.41. The company has a market capitalization of $2.51 billion, a PE ratio of 3.57 and a beta of 0.13. Scorpio Tankers Inc. has a 1 year low of $45.94 and a 1 year high of $84.67. 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 (NYSE:STNG) last announced its earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The business had revenue of $267.99 million for the quarter, compared to analysts’ expectations of $267.91 million. During the same period in the previous year, the company posted $1.91 EPS. The company’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, analysts expect that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.21%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.47%.

Analysts Set New Price Targets

Several brokerages have weighed in on STNG. Bank of America cut their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Evercore ISI decreased their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group dropped their target price on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $75.40.

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.