Edgestream Partners L.P. Takes Position in Scorpio Tankers Inc. (NYSE:STNG)

Edgestream Partners L.P. acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 70,215 shares of the shipping company's stock, valued at approximately $5,006,000. Edgestream Partners L.P. owned approximately 0.14% of Scorpio Tankers as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers bought a new position in Scorpio Tankers in the first quarter valued at about $2,107,000. Price T Rowe Associates Inc. MD grew its position in shares of Scorpio Tankers by 354.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,439 shares of the shipping company's stock worth $3,896,000 after buying an additional 42,451 shares during the period. Versor Investments LP grew its position in shares of Scorpio Tankers by 359.0% during the 3rd quarter. Versor Investments LP now owns 16,803 shares of the shipping company's stock worth $1,198,000 after buying an additional 13,142 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Scorpio Tankers during the second quarter worth approximately $1,098,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Scorpio Tankers by 222.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 28,339 shares of the shipping company's stock valued at $2,304,000 after buying an additional 19,562 shares during the period. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Down 0.1 %

Shares of NYSE:STNG traded down $0.03 during trading on Friday, hitting $50.66. 438,332 shares of the company's stock traded hands, compared to its average volume of 902,792. 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 company has a 50-day moving average price of $62.02 and a 200-day moving average price of $71.09. Scorpio Tankers Inc. has a 52 week low of $49.98 and a 52 week high of $84.67. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 3.63 and a beta of 0.18.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted 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. The business had revenue of $267.99 million for the quarter, compared to analysts' expectations of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The firm's revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 EPS. As a group, research analysts forecast that Scorpio Tankers Inc. will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

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 issued a $0.40 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.16%. Scorpio Tankers's dividend payout ratio (DPR) is presently 11.47%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Fearnley Fonds upgraded Scorpio Tankers to a "hold" rating in a report on Friday, September 27th. Stifel Nicolaus cut Scorpio Tankers from a "buy" rating to a "hold" rating and reduced their target price for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Bank of America lowered their price target on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a research note on Tuesday, October 22nd. Finally, Evercore ISI reduced their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Scorpio Tankers has a consensus rating of "Hold" and an average target price of $76.40.

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.