EMC Capital Management Buys 1,035 Shares of Scorpio Tankers Inc. (NYSE:STNG)

EMC Capital Management increased its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 61.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,717 shares of the shipping company’s stock after acquiring an additional 1,035 shares during the quarter. EMC Capital Management’s holdings in Scorpio Tankers were worth $135,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. grew its stake in Scorpio Tankers by 102.3% in the fourth quarter. Blue Trust Inc. now owns 6,631 shares of the shipping company’s stock valued at $329,000 after acquiring an additional 3,354 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Scorpio Tankers in the 4th quarter worth $303,000. Janney Montgomery Scott LLC acquired a new stake in Scorpio Tankers in the 4th quarter valued at $249,000. Assenagon Asset Management S.A. grew its position in Scorpio Tankers by 882.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock valued at $10,020,000 after purchasing an additional 181,135 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Scorpio Tankers by 204.1% in the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after acquiring an additional 402 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on STNG. Evercore ISI lowered their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Bank of America reduced their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Jefferies Financial Group lowered their target price on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and cut their price target for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $75.40.

Scorpio Tankers Price Performance

Shares of NYSE:STNG opened at $47.83 on Friday. The company has a 50 day moving average of $50.01 and a 200 day moving average of $61.83. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.42 billion, a P/E ratio of 3.43 and a beta of 0.12. Scorpio Tankers Inc. has a 12 month low of $45.43 and a 12 month high of $84.67.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. The firm had revenue of $267.99 million during the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.91 EPS. As a group, sell-side analysts forecast that Scorpio Tankers Inc. will post 10.09 EPS for the current fiscal year.

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.