Intech Investment Management LLC Takes $1.34 Million Position in Scorpio Tankers Inc. (NYSE:STNG)

Intech Investment Management LLC acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 18,784 shares of the shipping company's stock, valued at approximately $1,339,000.

Several other institutional investors have also recently modified their holdings of STNG. Truist Financial Corp lifted its stake in shares of Scorpio Tankers by 1.4% during the second quarter. Truist Financial Corp now owns 10,933 shares of the shipping company's stock valued at $889,000 after buying an additional 149 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in Scorpio Tankers by 34.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company's stock valued at $57,000 after acquiring an additional 177 shares during the last quarter. Quarry LP lifted its stake in shares of Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company's stock worth $54,000 after purchasing an additional 229 shares during the period. Segall Bryant & Hamill LLC grew its position in shares of Scorpio Tankers by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company's stock valued at $863,000 after purchasing an additional 252 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Scorpio Tankers by 970.0% in the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock valued at $25,000 after purchasing an additional 291 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on STNG shares. Fearnley Fonds upgraded Scorpio Tankers to a "hold" rating in a report on Friday, September 27th. Jefferies Financial Group dropped their price target on shares of Scorpio Tankers from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, November 14th. Stifel Nicolaus cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating and lowered their price objective for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. StockNews.com downgraded Scorpio Tankers from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Finally, 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $76.40.

Scorpio Tankers Price Performance

Scorpio Tankers stock opened at $51.21 on Wednesday. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $2.59 billion, a P/E ratio of 3.67 and a beta of 0.18. The firm has a fifty day moving average of $63.50 and a 200-day moving average of $71.88. Scorpio Tankers Inc. has a 52-week low of $50.92 and a 52-week high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating 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 company had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. During the same period last year, the company posted $1.91 earnings per share. The firm's revenue was down 8.0% compared to the same quarter last year. As a group, analysts predict 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. Shareholders of record on Friday, November 22nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers's dividend payout ratio is presently 11.47%.

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.