Independent Advisor Alliance Buys New Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Independent Advisor Alliance purchased a new stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 31,156 shares of the shipping company's stock, valued at approximately $2,221,000. Independent Advisor Alliance owned about 0.06% of Scorpio Tankers 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. LSV Asset Management boosted its holdings in shares of Scorpio Tankers by 8.5% during the 2nd quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company's stock valued at $162,222,000 after acquiring an additional 156,414 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Scorpio Tankers by 8,249.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company's stock valued at $134,057,000 after acquiring an additional 1,857,668 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Scorpio Tankers by 5.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company's stock valued at $106,800,000 after acquiring an additional 62,600 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Scorpio Tankers by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company's stock valued at $96,391,000 after acquiring an additional 199,858 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company's stock valued at $61,574,000 after acquiring an additional 549,395 shares in the last quarter. Institutional investors own 54.64% of the company's stock.

Wall Street Analysts Forecast Growth

STNG has been the topic of several recent research reports. Fearnley Fonds raised Scorpio Tankers to a "hold" rating in a report on Friday, September 27th. Jefferies Financial Group cut their target price on Scorpio Tankers from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Stifel Nicolaus downgraded Scorpio Tankers from a "buy" rating to a "hold" rating and cut their target price for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Bank of America cut their target price on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating on the stock in a report on Tuesday, October 22nd. Finally, StockNews.com downgraded Scorpio Tankers from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $76.40.

Scorpio Tankers Trading Down 1.1 %

Shares of NYSE:STNG traded down $0.55 during midday trading on Tuesday, reaching $51.21. The company's stock had a trading volume of 804,545 shares, compared to its average volume of 921,392. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 3.71 and a beta of 0.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The firm has a 50 day moving average price of $63.50 and a two-hundred day moving average price of $71.88. Scorpio Tankers Inc. has a fifty-two week low of $50.92 and a fifty-two week high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.14. The company had revenue of $267.99 million for the quarter, compared to the consensus estimate of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The firm's revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.91 EPS. As a group, analysts forecast that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers's dividend payout ratio is 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.