55,968 Shares in Scorpio Tankers Inc. (NYSE:STNG) Acquired by First Eagle Investment Management LLC

First Eagle Investment Management LLC bought a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 55,968 shares of the shipping company’s stock, valued at approximately $4,550,000. First Eagle Investment Management LLC owned about 0.10% of Scorpio Tankers at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. grew its position in Scorpio Tankers by 24.9% in the fourth quarter. Principal Financial Group Inc. now owns 42,142 shares of the shipping company’s stock worth $2,562,000 after acquiring an additional 8,409 shares in the last quarter. Norges Bank purchased a new position in shares of Scorpio Tankers in the 4th quarter worth about $34,009,000. Franklin Resources Inc. increased its position in shares of Scorpio Tankers by 2.3% during the 4th quarter. Franklin Resources Inc. now owns 20,668 shares of the shipping company’s stock valued at $1,257,000 after purchasing an additional 464 shares during the last quarter. US Bancorp DE increased its position in shares of Scorpio Tankers by 11.9% during the 4th quarter. US Bancorp DE now owns 14,850 shares of the shipping company’s stock valued at $903,000 after purchasing an additional 1,580 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Scorpio Tankers by 74.6% during the 4th quarter. Hsbc Holdings PLC now owns 19,098 shares of the shipping company’s stock valued at $1,157,000 after buying an additional 8,157 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

STNG stock opened at $68.26 on Friday. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 1.88 and a beta of 0.16. The firm’s 50-day moving average price is $72.20 and its two-hundred day moving average price is $74.49. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29. Scorpio Tankers Inc. has a 12-month low of $47.88 and a 12-month high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.08. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The company had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. During the same quarter in the previous year, the business earned $2.41 EPS. Scorpio Tankers’s revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts predict that Scorpio Tankers Inc. will post 12.71 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Thursday, August 15th. Scorpio Tankers’s payout ratio is 14.84%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on STNG shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a research note on Tuesday, July 30th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Stifel Nicolaus boosted their price target on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Evercore ISI lifted their price objective on 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 target price on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.17.

Scorpio Tankers Company 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.