Savant Capital LLC Acquires Shares of 6,964 Scorpio Tankers Inc. (NYSE:STNG)

Savant Capital LLC bought a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 6,964 shares of the shipping company’s stock, valued at approximately $346,000.

Other institutional investors also recently made changes to their positions in the company. Mountaineer Partners Management LLC raised its stake in Scorpio Tankers by 6,926.8% in the 3rd 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 boosted its stake 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. Geode Capital Management LLC lifted its stake in Scorpio Tankers by 5.3% during the third quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock worth $54,768,000 after purchasing an additional 38,599 shares during the last quarter. Fiera Capital Corp increased its position in Scorpio Tankers by 1.6% in the third quarter. Fiera Capital Corp now owns 351,456 shares of the shipping company’s stock worth $25,059,000 after buying an additional 5,531 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Scorpio Tankers by 882.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock valued at $10,020,000 after purchasing an additional 181,135 shares during the period. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Trading Down 1.2 %

Shares of STNG opened at $44.13 on Tuesday. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 3.16 and a beta of 0.08. Scorpio Tankers Inc. has a 52-week low of $43.32 and a 52-week high of $84.67. 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 fifty day moving average price of $49.24 and a two-hundred day moving average price of $59.24.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. Analysts predict that Scorpio Tankers Inc. will post 9.88 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 3.63%. Scorpio Tankers’s payout ratio is 11.47%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Stifel Nicolaus decreased their price target on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Friday. Bank of America cut their price objective 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. Evercore ISI dropped their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $75.00 price objective on shares of Scorpio Tankers in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $68.75.

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.