Scorpio Tankers Inc. (NYSE:STNG) Stock Holdings Lifted by Mountaineer Partners Management LLC

Mountaineer Partners Management LLC boosted its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 6,926.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,371,832 shares of the shipping company's stock after buying an additional 8,252,691 shares during the period. Scorpio Tankers accounts for about 5.0% of Mountaineer Partners Management LLC's investment portfolio, making the stock its 7th biggest holding. Mountaineer Partners Management LLC owned approximately 16.57% of Scorpio Tankers worth $596,912,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Truist Financial Corp lifted its holdings in shares of Scorpio Tankers by 1.4% during the 2nd quarter. Truist Financial Corp now owns 10,933 shares of the shipping company's stock valued at $889,000 after purchasing an additional 149 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in Scorpio Tankers by 34.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company's stock worth $57,000 after acquiring an additional 177 shares during the last quarter. Quarry LP raised its stake in Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company's stock worth $54,000 after acquiring an additional 229 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in Scorpio Tankers by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company's stock worth $863,000 after acquiring an additional 252 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock worth $25,000 after acquiring an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Scorpio Tankers Price Performance

Shares of NYSE:STNG traded down $1.13 during trading on Wednesday, reaching $50.64. 423,201 shares of the company's stock traded hands, compared to its average volume of 918,081. Scorpio Tankers Inc. has a fifty-two week low of $49.16 and a fifty-two week high of $84.67. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.56 billion, a PE ratio of 3.65 and a beta of 0.13. The company has a 50-day simple moving average of $61.24 and a 200-day simple moving average of $70.66.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping 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 company had revenue of $267.99 million for the quarter, compared to analysts' expectations of $267.91 million. During the same period in the previous year, the firm posted $1.91 EPS. Scorpio Tankers's revenue was down 8.0% compared to the same quarter last year. As a group, analysts predict that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers's payout ratio is 11.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Fearnley Fonds upgraded Scorpio Tankers to a "hold" rating in a research note on Friday, September 27th. Evercore ISI reduced their target price on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Stifel Nicolaus downgraded Scorpio Tankers from a "buy" rating to a "hold" rating and cut their price target for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. StockNews.com downgraded Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group cut their price target on Scorpio Tankers from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Scorpio Tankers has an average rating of "Hold" and a consensus 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.