Scorpio Tankers Inc. (NYSE:STNG) Stock Position Decreased by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 85.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,272 shares of the shipping company’s stock after selling 43,280 shares during the period. Mackenzie Financial Corp’s holdings in Scorpio Tankers were worth $591,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hsbc Holdings PLC lifted its holdings in shares of Scorpio Tankers by 74.6% in the 4th quarter. Hsbc Holdings PLC now owns 19,098 shares of the shipping company’s stock worth $1,157,000 after purchasing an additional 8,157 shares during the last quarter. KBC Group NV lifted its stake in Scorpio Tankers by 14.1% in the fourth quarter. KBC Group NV now owns 4,836 shares of the shipping company’s stock valued at $294,000 after buying an additional 596 shares during the last quarter. Vinva Investment Management Ltd acquired a new position in shares of Scorpio Tankers during the fourth quarter valued at $444,000. Epoch Investment Partners Inc. grew its position in shares of Scorpio Tankers by 0.7% during the fourth quarter. Epoch Investment Partners Inc. now owns 22,685 shares of the shipping company’s stock worth $1,379,000 after acquiring an additional 150 shares during the last quarter. Finally, Clear Street Markets LLC acquired a new stake in shares of Scorpio Tankers in the 4th quarter worth about $2,985,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Stock Performance

Shares of NYSE STNG opened at $72.94 on Friday. Scorpio Tankers Inc. has a 1 year low of $49.11 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 fifty day moving average price of $71.41 and a two-hundred day moving average price of $74.64. The firm has a market cap of $3.98 billion, a P/E ratio of 6.77, a PEG ratio of 2.00 and a beta of 0.15.

Scorpio Tankers (NYSE:STNG) last released its 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 analyst estimates of $368.62 million. During the same period in the previous year, the company earned $2.41 earnings per share. Scorpio Tankers’s revenue was up 15.6% compared to the same quarter last year. Research analysts forecast that Scorpio Tankers Inc. will post 12.71 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s dividend payout ratio is presently 14.84%.

Analysts Set New Price Targets

STNG has been the subject of a number of analyst reports. Evercore ISI boosted their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Stifel Nicolaus boosted 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. Finally, Bank of America lowered their price target on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and a consensus target price 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.