Donald Smith & CO. Inc. Makes New Investment in Scorpio Tankers Inc. $STNG

Donald Smith & CO. Inc. acquired a new stake in Scorpio Tankers Inc. (NYSE:STNG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 277,149 shares of the shipping company’s stock, valued at approximately $10,845,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Scorpio Tankers by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 2,678,503 shares of the shipping company’s stock valued at $100,658,000 after buying an additional 167,218 shares in the last quarter. Invesco Ltd. raised its position in Scorpio Tankers by 17.8% during the first quarter. Invesco Ltd. now owns 137,600 shares of the shipping company’s stock worth $5,171,000 after acquiring an additional 20,764 shares during the period. Virtu Financial LLC acquired a new position in Scorpio Tankers during the first quarter worth $746,000. Nuveen LLC purchased a new position in Scorpio Tankers during the first quarter valued at $4,666,000. Finally, Russell Investments Group Ltd. grew its position in shares of Scorpio Tankers by 34.1% in the first quarter. Russell Investments Group Ltd. now owns 134,429 shares of the shipping company’s stock valued at $5,053,000 after purchasing an additional 34,215 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Stock Down 0.3%

Shares of NYSE STNG opened at $55.79 on Friday. The company has a market capitalization of $2.85 billion, a P/E ratio of 9.44 and a beta of -0.30. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.81 and a quick ratio of 4.75. The company has a 50 day simple moving average of $58.75 and a 200-day simple moving average of $50.77. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $65.52.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, October 30th. The shipping company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.10. The company had revenue of $232.92 million during the quarter, compared to analyst estimates of $228.09 million. Scorpio Tankers had a return on equity of 7.42% and a net margin of 32.01%.The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.75 earnings per share. On average, equities research analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 14th were issued a $0.42 dividend. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, November 14th. This represents a $1.68 annualized dividend and a yield of 3.0%. Scorpio Tankers’s payout ratio is presently 28.43%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America reduced their price target on shares of Scorpio Tankers from $73.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, December 1st. Evercore ISI set a $80.00 target price on Scorpio Tankers and gave the company an “outperform” rating in a report on Monday, November 3rd. B. Riley reaffirmed a “buy” rating and issued a $80.00 price target (up from $75.00) on shares of Scorpio Tankers in a research note on Thursday, October 16th. Zacks Research cut Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Scorpio Tankers in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Scorpio Tankers currently has an average rating of “Moderate Buy” and an average price target of $69.20.

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.