Royce & Associates LP Has $9.96 Million Stock Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Royce & Associates LP lifted its stake in Scorpio Tankers Inc. (NYSE:STNG) by 33.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 200,498 shares of the shipping company’s stock after purchasing an additional 49,840 shares during the quarter. Royce & Associates LP owned 0.40% of Scorpio Tankers worth $9,963,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Mountaineer Partners Management LLC boosted its holdings in shares of Scorpio Tankers by 6,926.8% in the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after buying an additional 8,252,691 shares during the period. Geode Capital Management LLC boosted its stake in Scorpio Tankers by 5.3% in the 3rd 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 period. First Eagle Investment Management LLC grew its position in Scorpio Tankers by 46.5% during the 4th quarter. First Eagle Investment Management LLC now owns 221,568 shares of the shipping company’s stock worth $11,010,000 after purchasing an additional 70,300 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Scorpio Tankers by 882.8% in 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 in the last quarter. Finally, TCW Group Inc. boosted its position in shares of Scorpio Tankers by 8.2% in the fourth quarter. TCW Group Inc. now owns 190,692 shares of the shipping company’s stock worth $9,475,000 after buying an additional 14,500 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Up 1.9 %

Shares of STNG stock opened at $40.33 on Tuesday. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 3.09 and a beta of 0.01. 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’s 50 day simple moving average is $45.88 and its 200 day simple moving average is $54.69. Scorpio Tankers Inc. has a twelve month low of $37.14 and a twelve month high of $84.67.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data 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 18.01% and a net margin of 53.76%. As a group, research analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 3.97%. Scorpio Tankers’s payout ratio is 12.27%.

Analyst Ratings Changes

STNG has been the topic of a number of research reports. Stifel Nicolaus dropped their target price on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a research 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 company. According to MarketBeat, Scorpio Tankers 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.