Jacobs Levy Equity Management Inc. Lowers Position in Scorpio Tankers Inc. (NYSE:STNG)

Jacobs Levy Equity Management Inc. trimmed its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 39.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 195,351 shares of the shipping company's stock after selling 124,749 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.39% of Scorpio Tankers worth $13,929,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Cetera Investment Advisers acquired a new position in shares of Scorpio Tankers in the first quarter worth approximately $2,107,000. Versor Investments LP lifted its stake in shares of Scorpio Tankers by 359.0% in 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. Assenagon Asset Management S.A. acquired a new position in shares of Scorpio Tankers in the second quarter worth approximately $1,098,000. Independent Advisor Alliance acquired a new position in shares of Scorpio Tankers in the third quarter worth approximately $2,221,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of 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 worth $2,304,000 after acquiring an additional 19,562 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Fearnley Fonds raised Scorpio Tankers to a "hold" rating in a research note on Friday, September 27th. Stifel Nicolaus lowered Scorpio Tankers from a "buy" rating to a "hold" rating and dropped their price target for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Evercore ISI dropped their price target 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. Jefferies Financial Group dropped their price target on Scorpio Tankers from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th. Finally, StockNews.com lowered Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Scorpio Tankers currently has an average rating of "Hold" and a consensus target price of $76.40.

Scorpio Tankers Stock Down 1.2 %

Shares of NYSE STNG traded down $0.62 during midday trading on Thursday, hitting $49.55. 512,068 shares of the stock traded hands, compared to its average volume of 920,290. The company has a market cap of $2.50 billion, a PE ratio of 3.60 and a beta of 0.13. Scorpio Tankers Inc. has a one year low of $49.16 and a one year high of $84.67. The business has a 50 day moving average price of $60.85 and a two-hundred day moving average price of $70.51. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released 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 firm had revenue of $267.99 million during 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 company's quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.91 earnings per share. On average, equities analysts predict that Scorpio Tankers Inc. will post 11.04 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers's payout ratio is currently 11.47%.

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.