Assenagon Asset Management S.A. Increases Position in Scorpio Tankers Inc. (NYSE:STNG)

Assenagon Asset Management S.A. increased its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 882.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 201,653 shares of the shipping company’s stock after buying an additional 181,135 shares during the period. Assenagon Asset Management S.A. owned about 0.40% of Scorpio Tankers worth $10,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 291 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Scorpio Tankers during the third quarter worth $28,000. GAMMA Investing LLC boosted its position in Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after purchasing an additional 402 shares in the last quarter. Quarry LP boosted its position in Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after purchasing an additional 229 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in Scorpio Tankers by 34.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 177 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Stock Down 2.8 %

STNG stock opened at $52.90 on Friday. The company has a 50 day moving average price of $51.16 and a two-hundred day moving average price of $63.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The stock has a market capitalization of $2.67 billion, a P/E ratio of 3.79 and a beta of 0.12. Scorpio Tankers Inc. has a one year low of $45.94 and a one year high of $84.67.

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

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.40 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.60 annualized dividend and a dividend yield of 3.02%. Scorpio Tankers’s payout ratio is currently 11.47%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Evercore ISI cut their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their price target for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group dropped their price objective on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Bank of America reduced their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $75.40.

About Scorpio Tankers

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.