15,000 Shares in Scorpio Tankers Inc. (NYSE:STNG) Acquired by DF Dent & Co. Inc.

DF Dent & Co. Inc. purchased a new position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,000 shares of the shipping company's stock, valued at approximately $1,070,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Investment Advisers purchased a new stake in Scorpio Tankers in the 1st quarter valued at about $2,107,000. Mountaineer Partners Management LLC increased its position 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 valued at $596,912,000 after acquiring an additional 8,252,691 shares during the last quarter. Versor Investments LP lifted its holdings in Scorpio Tankers by 359.0% during the third quarter. Versor Investments LP now owns 16,803 shares of the shipping company's stock worth $1,198,000 after acquiring an additional 13,142 shares during the period. Independent Advisor Alliance purchased a new position in Scorpio Tankers in the third quarter worth $2,221,000. Finally, Assenagon Asset Management S.A. bought a new position in Scorpio Tankers in the 2nd quarter valued at $1,098,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Performance

NYSE:STNG traded down $0.75 on Friday, reaching $48.80. 636,043 shares of the company's stock were exchanged, compared to its average volume of 911,607. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 3.50 and a beta of 0.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The stock has a fifty day simple moving average of $59.97 and a 200-day simple moving average of $70.05. Scorpio Tankers Inc. has a 52 week low of $48.13 and a 52 week high of $84.67.

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

Scorpio Tankers Announces Dividend

The business also recently declared 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers's payout ratio is currently 11.47%.

Analysts Set New Price Targets

A number of research firms have recently commented on STNG. Bank of America lowered their target price on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 22nd. StockNews.com lowered shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Jefferies Financial Group reduced 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. Stifel Nicolaus lowered shares of Scorpio Tankers from a "buy" rating to a "hold" rating and decreased their price target for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Finally, Evercore ISI dropped their price objective on 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.