Scorpio Tankers Inc. (NYSE:STNG) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 105.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,600 shares of the shipping company’s stock after purchasing an additional 86,400 shares during the period. Canada Pension Plan Investment Board owned approximately 0.31% of Scorpio Tankers worth $13,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of STNG. LSV Asset Management boosted its position in Scorpio Tankers by 118.1% during the first quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company’s stock worth $131,594,000 after purchasing an additional 995,978 shares in the last quarter. Norges Bank acquired a new position in shares of Scorpio Tankers during the 4th quarter worth about $34,009,000. Vanguard Group Inc. increased its stake in Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after buying an additional 549,395 shares in the last quarter. Hartree Partners LP boosted its stake in shares of Scorpio Tankers by 634.5% in the first quarter. Hartree Partners LP now owns 521,498 shares of the shipping company’s stock worth $37,313,000 after acquiring an additional 450,498 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake 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 purchasing an additional 264,049 shares during the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Trading Up 2.1 %

NYSE:STNG opened at $69.72 on Tuesday. The stock has a 50-day simple moving average of $72.06 and a 200-day simple moving average of $74.59. Scorpio Tankers Inc. has a 1 year low of $47.88 and a 1 year high of $84.67. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67. The stock has a market cap of $3.81 billion, a P/E ratio of 6.47, a P/E/G ratio of 1.88 and a beta of 0.16.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. During the same quarter last year, the business posted $2.41 EPS. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, analysts anticipate that Scorpio Tankers Inc. will post 12.71 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s dividend payout ratio is currently 14.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on STNG shares. Stifel Nicolaus raised their target price 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. Bank of America reduced their price target on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a report 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. Finally, Evercore ISI raised their price target on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.80.

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.