Renaissance Technologies LLC Has $106.80 Million Position in Scorpio Tankers Inc. (NYSE:STNG)

Renaissance Technologies LLC raised its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 5.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,313,815 shares of the shipping company’s stock after buying an additional 62,600 shares during the quarter. Renaissance Technologies LLC owned about 2.47% of Scorpio Tankers worth $106,800,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of STNG. Jump Financial LLC acquired a new position in shares of Scorpio Tankers during the 4th quarter worth about $639,000. Principal Financial Group Inc. grew its position in shares of Scorpio Tankers by 24.9% during the 4th quarter. Principal Financial Group Inc. now owns 42,142 shares of the shipping company’s stock worth $2,562,000 after buying an additional 8,409 shares during the period. Norges Bank acquired a new position in shares of Scorpio Tankers in the 4th quarter valued at approximately $34,009,000. Franklin Resources Inc. grew its position in shares of Scorpio Tankers by 2.3% in the 4th quarter. Franklin Resources Inc. now owns 20,668 shares of the shipping company’s stock valued at $1,257,000 after purchasing an additional 464 shares during the period. Finally, US Bancorp DE grew its position in shares of Scorpio Tankers by 11.9% in the 4th quarter. US Bancorp DE now owns 14,850 shares of the shipping company’s stock valued at $903,000 after purchasing an additional 1,580 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STNG has been the subject of several research analyst reports. Bank of America decreased their price objective 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. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, July 30th. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Stifel Nicolaus boosted their price objective on Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Evercore ISI boosted their price objective on Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.17.

Scorpio Tankers Trading Up 1.0 %

NYSE:STNG opened at $68.68 on Tuesday. Scorpio Tankers Inc. has a twelve month low of $47.88 and a twelve month high of $84.67. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $72.88 and a two-hundred day moving average price of $74.51. The company has a market cap of $3.65 billion, a P/E ratio of 6.37, a price-to-earnings-growth ratio of 1.85 and a beta of 0.16.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share 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 firm had revenue of $380.70 million during the quarter, compared to the consensus estimate of $368.62 million. During the same quarter in the prior year, the firm posted $2.41 EPS. The business’s revenue was up 15.6% on a year-over-year basis. As a group, analysts expect that Scorpio Tankers Inc. will post 12.71 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Thursday, August 15th. Scorpio Tankers’s dividend payout ratio is currently 14.84%.

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.