Scorpio Tankers Inc. (NYSE:STNG) Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC grew its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 218.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,250 shares of the shipping company's stock after acquiring an additional 18,007 shares during the quarter. Bleakley Financial Group LLC owned 0.05% of Scorpio Tankers worth $1,304,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Mountaineer Partners Management LLC lifted its holdings in shares of Scorpio Tankers by 6,926.8% during the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company's stock worth $596,912,000 after purchasing an additional 8,252,691 shares during the period. International Assets Investment Management LLC lifted its holdings in Scorpio Tankers by 8,249.0% in the third 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 during the period. Assenagon Asset Management S.A. lifted its holdings in Scorpio Tankers by 882.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company's stock valued at $10,020,000 after acquiring an additional 181,135 shares during the period. Barclays PLC lifted its holdings in Scorpio Tankers by 873.6% in the third quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock valued at $13,418,000 after acquiring an additional 168,866 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Scorpio Tankers in the third quarter valued at approximately $8,459,000. Institutional investors and hedge funds own 54.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Evercore ISI cut their price objective 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. Stifel Nicolaus cut Scorpio Tankers from a "buy" rating to a "hold" rating and dropped their price target for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Bank of America dropped their price target on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group dropped their target price on Scorpio Tankers from $80.00 to $75.00 and set a "buy" rating for the company in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $72.75.

Scorpio Tankers Stock Down 0.5 %

Shares of STNG traded down $0.26 during midday trading on Wednesday, hitting $47.92. The company had a trading volume of 865,120 shares, compared to its average volume of 1,042,977. The company's 50-day simple moving average is $49.52 and its 200-day simple moving average is $60.03. 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 market capitalization of $2.42 billion, a P/E ratio of 3.44 and a beta of 0.08. Scorpio Tankers Inc. has a 1 year low of $45.43 and a 1 year high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. As a group, sell-side analysts expect that Scorpio Tankers Inc. will post 9.88 EPS for the current year.

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.