Scorpio Tankers Inc. (NYSE:STNG) Shares Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. boosted its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 2.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 330,555 shares of the shipping company’s stock after buying an additional 9,207 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Scorpio Tankers were worth $23,651,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. LSV Asset Management lifted its holdings 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 during the period. International Assets Investment Management LLC lifted its holdings in shares of Scorpio Tankers by 4,706.2% during the fourth quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock worth $59,025,000 after purchasing an additional 950,600 shares during the period. Norges Bank acquired a new stake in shares of Scorpio Tankers during the fourth quarter worth about $34,009,000. Vanguard Group Inc. lifted its holdings in shares of Scorpio Tankers by 176.6% during the first 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. Finally, Hartree Partners LP lifted its holdings in shares of Scorpio Tankers by 634.5% during the first 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. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Price Performance

Shares of NYSE:STNG traded up $2.39 during midday trading on Tuesday, hitting $76.87. The company’s stock had a trading volume of 1,267,309 shares, compared to its average volume of 976,095. The company has a market cap of $4.20 billion, a P/E ratio of 7.19, a price-to-earnings-growth ratio of 1.12 and a beta of 0.16. Scorpio Tankers Inc. has a 12-month low of $45.95 and a 12-month high of $84.67. The business’s 50 day simple moving average is $79.36 and its 200 day simple moving average is $73.46. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.58 and a current ratio of 1.60.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Thursday, May 9th. The shipping company reported $3.97 earnings per share for the quarter, topping the consensus estimate of $3.72 by $0.25. The business had revenue of $389.76 million for the quarter, compared to analysts’ expectations of $381.46 million. Scorpio Tankers had a return on equity of 22.84% and a net margin of 42.12%. On average, analysts forecast that Scorpio Tankers Inc. will post 13.09 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.08%. The ex-dividend date was Friday, June 14th. Scorpio Tankers’s payout ratio is currently 14.84%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Bank of America reduced their price target on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Evercore ISI lifted their price target on Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Stifel Nicolaus lifted their price target on Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Tuesday. Finally, StockNews.com upgraded Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.