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

First Eagle Investment Management LLC grew its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 46.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,568 shares of the shipping company’s stock after buying an additional 70,300 shares during the quarter. First Eagle Investment Management LLC’s holdings in Scorpio Tankers were worth $11,010,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in shares of Scorpio Tankers by 882.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock valued at $10,020,000 after buying an additional 181,135 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Scorpio Tankers during the third quarter worth $8,459,000. Mountaineer Partners Management LLC raised its holdings in Scorpio Tankers by 6,926.8% during the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after purchasing an additional 8,252,691 shares during the last quarter. Geode Capital Management LLC raised its holdings 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. Finally, Barclays PLC raised its holdings in Scorpio Tankers by 873.6% during the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock worth $13,418,000 after purchasing an additional 168,866 shares during the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Stock Performance

Scorpio Tankers stock opened at $39.57 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The stock has a fifty day moving average of $46.03 and a two-hundred day moving average of $55.13. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 3.03 and a beta of 0.01. Scorpio Tankers Inc. has a fifty-two week low of $37.14 and a fifty-two week high of $84.67.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. On average, analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.04%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s payout ratio is 12.27%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on STNG. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 price objective on shares of Scorpio Tankers in a report on Thursday, February 13th. Stifel Nicolaus reduced their price objective on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $68.75.

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.