Centiva Capital LP bought a new stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,578 shares of the shipping company's stock, valued at approximately $897,000.
Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock valued at $25,000 after acquiring an additional 291 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Scorpio Tankers during the third quarter worth approximately $28,000. Fifth Third Bancorp raised its stake in Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company's stock worth $34,000 after purchasing an additional 319 shares during the period. Quarry LP boosted its holdings in shares of Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company's stock valued at $54,000 after purchasing an additional 229 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its stake in shares of Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company's stock valued at $57,000 after buying an additional 177 shares during the period. 54.64% of the stock is currently owned by hedge funds and other institutional investors.
Scorpio Tankers Stock Down 1.5 %
Shares of STNG traded down $0.75 during midday trading on Friday, hitting $48.80. The company had a trading volume of 636,028 shares, compared to its average volume of 919,086. The company's 50 day moving average price is $60.42 and its 200 day moving average price is $70.37. Scorpio Tankers Inc. has a 52 week low of $48.13 and a 52 week high of $84.67. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 3.55 and a beta of 0.13. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27.
Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (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 business had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. During the same period in the prior year, the company posted $1.91 EPS. The business's revenue was down 8.0% compared to the same quarter last year. On average, equities research analysts predict that Scorpio Tankers Inc. will post 11.04 EPS for the current year.
Scorpio Tankers Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers's dividend payout ratio is presently 11.47%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on STNG. Fearnley Fonds raised Scorpio Tankers to a "hold" rating in a research report on Friday, September 27th. Stifel Nicolaus lowered Scorpio Tankers from a "buy" rating to a "hold" rating and reduced their price objective for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group dropped their target price 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. StockNews.com cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Finally, Evercore ISI decreased their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Scorpio Tankers presently has an average rating of "Hold" and an average price target of $76.40.
View Our Latest Research Report on STNG
About Scorpio Tankers
(
Free Report)
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.
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