Scorpio Tankers Inc. (NYSE:STNG) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in Scorpio Tankers Inc. (NYSE:STNG) by 882.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 201,653 shares of the shipping company’s stock after acquiring an additional 181,135 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Scorpio Tankers were worth $10,020,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new position in Scorpio Tankers in the 3rd quarter worth approximately $8,459,000. Mountaineer Partners Management LLC lifted its position in shares of 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 in the last quarter. Barclays PLC boosted its stake in shares of Scorpio Tankers by 873.6% in the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after purchasing an additional 168,866 shares during the period. Independent Advisor Alliance acquired a new stake in Scorpio Tankers during the 3rd quarter valued at $2,221,000. Finally, Versor Investments LP increased its stake in Scorpio Tankers by 359.0% during the 3rd quarter. Versor Investments LP now owns 16,803 shares of the shipping company’s stock worth $1,198,000 after buying an additional 13,142 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

Shares of STNG opened at $52.90 on Friday. Scorpio Tankers Inc. has a 52 week low of $45.94 and a 52 week high of $84.67. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 3.79 and a beta of 0.12. The stock has a 50 day moving average of $51.16 and a 200-day moving average of $63.67.

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

Scorpio Tankers Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently weighed in on STNG shares. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Bank of America lowered their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Evercore ISI cut their target price 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. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their price target for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group cut their price target on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Scorpio Tankers presently has an average rating of “Hold” and a consensus price target of $75.40.

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.