American Century Companies Inc. Acquires 199,858 Shares of Scorpio Tankers Inc. (NYSE:STNG)

American Century Companies Inc. raised its stake in Scorpio Tankers Inc. (NYSE:STNG) by 20.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,185,762 shares of the shipping company’s stock after purchasing an additional 199,858 shares during the period. American Century Companies Inc. owned 2.17% of Scorpio Tankers worth $96,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. LSV Asset Management increased its stake in shares of Scorpio Tankers by 118.1% during the first quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company’s stock worth $131,594,000 after purchasing an additional 995,978 shares in the last quarter. Norges Bank acquired a new stake in Scorpio Tankers during the fourth quarter worth $34,009,000. Vanguard Group Inc. grew its holdings in shares of Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after purchasing an additional 549,395 shares during the period. Hartree Partners LP grew its holdings in shares of Scorpio Tankers by 634.5% during the 1st quarter. Hartree Partners LP now owns 521,498 shares of the shipping company’s stock worth $37,313,000 after purchasing an additional 450,498 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Scorpio Tankers by 1,357.2% during the second quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company’s stock valued at $23,034,000 after acquiring an additional 264,049 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Trading Up 0.6 %

Shares of STNG opened at $68.02 on Friday. The stock has a fifty day moving average of $73.30 and a two-hundred day moving average of $74.40. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67. Scorpio Tankers Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $84.67. The company has a market capitalization of $3.62 billion, a PE ratio of 6.31, a price-to-earnings-growth ratio of 1.83 and a beta of 0.16.

Scorpio Tankers (NYSE:STNG) last issued 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 business had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $368.62 million. During the same quarter in the previous year, the business earned $2.41 EPS. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, analysts forecast that Scorpio Tankers Inc. will post 12.71 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s dividend payout ratio is currently 14.84%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STNG. Evercore ISI lifted their price objective on Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Bank of America decreased their target price on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Stifel Nicolaus lifted their price target on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Finally, StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.17.

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.