Barclays PLC Has $13.42 Million Position in Scorpio Tankers Inc. (NYSE:STNG)

Barclays PLC raised its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 873.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 188,195 shares of the shipping company’s stock after acquiring an additional 168,866 shares during the quarter. Barclays PLC owned about 0.37% of Scorpio Tankers worth $13,418,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in STNG. Mountaineer Partners Management LLC lifted its stake in shares of Scorpio Tankers by 6,926.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after purchasing an additional 8,252,691 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Scorpio Tankers by 8,249.0% in the third quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock worth $134,057,000 after buying an additional 1,857,668 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Scorpio Tankers by 1,357.2% during the 2nd quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company’s stock worth $23,034,000 after acquiring an additional 264,049 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Scorpio Tankers by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock valued at $96,391,000 after acquiring an additional 199,858 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Scorpio Tankers by 8.5% in the 2nd quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock valued at $162,222,000 after acquiring an additional 156,414 shares in the last quarter. 54.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STNG has been the subject of a number of recent analyst reports. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their target price for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Evercore ISI decreased their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Bank of America decreased their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group lowered their price target on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $75.40.

Scorpio Tankers Price Performance

NYSE:STNG opened at $48.31 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The stock has a market cap of $2.44 billion, a P/E ratio of 3.46 and a beta of 0.13. The company has a fifty day moving average price of $57.53 and a 200 day moving average price of $68.81. Scorpio Tankers Inc. has a one year low of $46.66 and a one year high of $84.67.

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

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers’s payout ratio is presently 11.47%.

About Scorpio Tankers

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.