Illinois Municipal Retirement Fund Acquires 6,138 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Illinois Municipal Retirement Fund boosted its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 68.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,141 shares of the shipping company’s stock after buying an additional 6,138 shares during the period. Illinois Municipal Retirement Fund’s holdings in Scorpio Tankers were worth $921,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in STNG. FMR LLC increased its position in Scorpio Tankers by 94.4% in the 3rd quarter. FMR LLC now owns 2,334,754 shares of the shipping company’s stock worth $126,357,000 after buying an additional 1,133,900 shares during the period. International Assets Investment Management LLC increased its position 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 valued at $59,025,000 after purchasing an additional 950,600 shares during the period. Packer & Co Ltd bought a new stake in shares of Scorpio Tankers during the third quarter valued at approximately $25,599,000. DNB Asset Management AS increased its position in shares of Scorpio Tankers by 167.0% during the fourth quarter. DNB Asset Management AS now owns 254,839 shares of the shipping company’s stock valued at $15,494,000 after purchasing an additional 159,393 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Scorpio Tankers by 30.0% during the third quarter. American Century Companies Inc. now owns 400,833 shares of the shipping company’s stock valued at $21,693,000 after purchasing an additional 92,561 shares during the period. 54.64% of the stock is owned by institutional investors.

Scorpio Tankers Price Performance

Scorpio Tankers stock opened at $72.77 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.13. The firm has a market cap of $3.86 billion, a P/E ratio of 7.32, a P/E/G ratio of 1.25 and a beta of 0.21. The business’s fifty day moving average is $70.01 and its two-hundred day moving average is $63.90. Scorpio Tankers Inc. has a 52 week low of $40.34 and a 52 week high of $74.04.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Wednesday, February 14th. The shipping company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.13. The company had revenue of $336.30 million for the quarter, compared to analyst estimates of $335.70 million. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. The business’s revenue was down 31.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.24 earnings per share. Equities research analysts forecast that Scorpio Tankers Inc. will post 12.54 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. Scorpio Tankers’s payout ratio is currently 16.10%.

Wall Street Analysts Forecast Growth

STNG has been the topic of a number of research reports. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. boosted their price objective on Scorpio Tankers from $85.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Evercore ISI boosted their price target on Scorpio Tankers from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of Scorpio Tankers in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.00.

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.