Scorpio Tankers Inc. (NYSE:STNG) Position Boosted by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 5.3% during the third quarter, Holdings Channel.com reports. The firm owned 768,129 shares of the shipping company’s stock after buying an additional 38,599 shares during the period. Geode Capital Management LLC’s holdings in Scorpio Tankers were worth $54,768,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in STNG. Mountaineer Partners Management LLC boosted its position in Scorpio Tankers by 6,926.8% during the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after purchasing an additional 8,252,691 shares during the last quarter. International Assets Investment Management LLC lifted its holdings 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 buying an additional 1,857,668 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of 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 buying an additional 264,049 shares in the last quarter. American Century Companies Inc. increased its holdings in Scorpio Tankers by 20.3% in the second quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after buying an additional 199,858 shares during the last quarter. Finally, Barclays PLC raised its position in Scorpio Tankers by 873.6% during the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after acquiring an additional 168,866 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Price Performance

Shares of NYSE:STNG opened at $47.49 on Monday. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $55.11 and a 200 day moving average price of $67.63. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 3.40 and a beta of 0.13. Scorpio Tankers Inc. has a twelve month low of $45.94 and a twelve month high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.14. The business had revenue of $267.99 million for the quarter, compared to the consensus estimate of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. Scorpio Tankers’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the company posted $1.91 earnings per share. Research analysts predict that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is currently 11.47%.

Wall Street Analyst Weigh In

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