Scorpio Tankers Inc. (NYSE:STNG) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP boosted its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 85.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,250 shares of the shipping company’s stock after acquiring an additional 23,176 shares during the quarter. Quantbot Technologies LP’s holdings in Scorpio Tankers were worth $3,583,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after purchasing an additional 291 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Scorpio Tankers in the 3rd quarter worth $28,000. Fifth Third Bancorp boosted its holdings in shares of Scorpio Tankers by 319.0% in the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 319 shares in the last quarter. Quarry LP raised its holdings in Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after purchasing an additional 229 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its position in Scorpio Tankers by 34.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 177 shares during the period. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on STNG. Jefferies Financial Group dropped their target price on Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Evercore ISI decreased their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Finally, Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their price target for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.40.

Scorpio Tankers Trading Down 1.0 %

Shares of STNG opened at $50.70 on Thursday. Scorpio Tankers Inc. has a fifty-two week low of $50.13 and a fifty-two week high of $84.67. The company has a market capitalization of $2.56 billion, a PE ratio of 3.63 and a beta of 0.18. The stock has a fifty day moving average of $63.14 and a two-hundred day moving average of $71.69. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21.

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, topping the consensus estimate of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The firm had revenue of $267.99 million for the quarter, compared to the consensus estimate of $267.91 million. During the same period in the prior year, the business posted $1.91 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, analysts forecast that Scorpio Tankers Inc. will post 11.04 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is 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.