Acadian Asset Management LLC Increases Stake in Scorpio Tankers Inc. (NYSE:STNG)

Acadian Asset Management LLC raised its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 1,357.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 283,505 shares of the shipping company’s stock after purchasing an additional 264,049 shares during the quarter. Acadian Asset Management LLC owned 0.53% of Scorpio Tankers worth $23,034,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of STNG. Dimensional Fund Advisors LP increased its position in Scorpio Tankers by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,760,429 shares of the shipping company’s stock valued at $228,634,000 after acquiring an additional 47,046 shares during the last quarter. LSV Asset Management increased its position in shares of Scorpio Tankers by 118.1% during the 1st quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company’s stock valued at $131,594,000 after purchasing an additional 995,978 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Scorpio Tankers by 176.6% in the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after purchasing an additional 549,395 shares during the period. Norges Bank purchased a new position in shares of Scorpio Tankers in the fourth quarter worth approximately $34,009,000. Finally, Hartree Partners LP grew its position in Scorpio Tankers by 634.5% during the first quarter. Hartree Partners LP now owns 521,498 shares of the shipping company’s stock valued at $37,313,000 after buying an additional 450,498 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Price Performance

NYSE:STNG opened at $68.53 on Tuesday. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 6.36, a PEG ratio of 1.20 and a beta of 0.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. The business has a 50 day simple moving average of $74.16 and a 200-day simple moving average of $74.49. Scorpio Tankers Inc. has a 1 year low of $47.88 and a 1 year high of $84.67.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The company had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. During the same period in the prior year, the firm posted $2.41 EPS. The firm’s revenue was up 15.6% compared to the same quarter last year. Equities analysts forecast that Scorpio Tankers Inc. will post 12.89 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, August 15th. Scorpio Tankers’s payout ratio is 14.84%.

Analyst Upgrades and Downgrades

STNG has been the subject of several analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Stifel Nicolaus upped their price target on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Evercore ISI increased their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, Bank of America lowered their price target on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.17.

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.