Scorpio Tankers Inc. (NYSE:STNG) Shares Acquired by TCW Group Inc.

TCW Group Inc. increased its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 8.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,692 shares of the shipping company’s stock after purchasing an additional 14,500 shares during the quarter. TCW Group Inc. owned 0.38% of Scorpio Tankers worth $9,475,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of STNG. SG Americas Securities LLC increased its position in shares of Scorpio Tankers by 34.8% in the 3rd quarter. SG Americas Securities LLC now owns 1,777 shares of the shipping company’s stock valued at $127,000 after purchasing an additional 459 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Scorpio Tankers by 16.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 32,903 shares of the shipping company’s stock worth $2,346,000 after purchasing an additional 4,564 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Scorpio Tankers by 51.9% in the third quarter. Assenagon Asset Management S.A. now owns 20,518 shares of the shipping company’s stock valued at $1,463,000 after buying an additional 7,010 shares during the last quarter. Measured Wealth Private Client Group LLC raised its stake in Scorpio Tankers by 4.0% in the third quarter. Measured Wealth Private Client Group LLC now owns 12,541 shares of the shipping company’s stock valued at $894,000 after buying an additional 484 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new stake in Scorpio Tankers during the 3rd quarter worth about $7,479,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 2.9 %

Scorpio Tankers stock opened at $41.19 on Monday. The company has a market capitalization of $2.08 billion, a P/E ratio of 3.16 and a beta of 0.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. Scorpio Tankers Inc. has a fifty-two week low of $41.07 and a fifty-two week high of $84.67. The stock has a 50-day simple moving average of $48.79 and a 200-day simple moving average of $58.37.

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 net margin of 53.76% and a return on equity of 18.01%. Equities research analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm 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. This represents a $1.60 annualized dividend and a yield of 3.88%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s payout ratio is currently 12.27%.

Analyst Ratings Changes

STNG has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Evercore ISI lowered their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $75.00 price objective on shares of Scorpio Tankers in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Scorpio Tankers has an average rating of “Hold” and an average target price of $68.75.

Scorpio Tankers 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.