First Eagle Investment Management LLC Raises Holdings in Scorpio Tankers Inc. (NYSE:STNG)

First Eagle Investment Management LLC grew its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 46.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 221,568 shares of the shipping company’s stock after acquiring an additional 70,300 shares during the quarter. First Eagle Investment Management LLC owned about 0.44% of Scorpio Tankers worth $11,010,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in STNG. Principal Financial Group Inc. increased its holdings in shares of Scorpio Tankers by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 41,416 shares of the shipping company’s stock valued at $2,953,000 after acquiring an additional 992 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at about $378,000. MQS Management LLC purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at about $284,000. AM Squared Ltd purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at about $64,000. Finally, Chesapeake Capital Corp IL increased its holdings in shares of Scorpio Tankers by 6.4% in the 3rd quarter. Chesapeake Capital Corp IL now owns 5,841 shares of the shipping company’s stock valued at $419,000 after acquiring an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Up 2.1 %

Scorpio Tankers stock opened at $39.57 on Friday. Scorpio Tankers Inc. has a twelve month low of $37.14 and a twelve month high of $84.67. The stock has a 50 day moving average of $46.03 and a two-hundred day moving average of $55.13. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 3.03 and a beta of 0.01.

Scorpio Tankers (NYSE:STNG) last posted 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 expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently disclosed 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. 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 4.04%. Scorpio Tankers’s payout ratio is 12.27%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on STNG. Stifel Nicolaus dropped their price target on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group restated a “buy” rating and set a $75.00 price target on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, 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.