Hood River Capital Management LLC Has $8.95 Million Stock Position in Scorpio Tankers Inc. (NYSE:STNG)

Hood River Capital Management LLC grew its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 7.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,082 shares of the shipping company's stock after acquiring an additional 7,627 shares during the period. Hood River Capital Management LLC owned about 0.21% of Scorpio Tankers worth $8,949,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of STNG. Epoch Investment Partners Inc. boosted its holdings in shares of Scorpio Tankers by 0.7% during the 4th quarter. Epoch Investment Partners Inc. now owns 22,685 shares of the shipping company's stock worth $1,379,000 after buying an additional 150 shares during the period. AlphaMark Advisors LLC boosted its stake in Scorpio Tankers by 5.9% in the 1st quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company's stock valued at $358,000 after purchasing an additional 281 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock valued at $25,000 after buying an additional 291 shares in the last quarter. Fifth Third Bancorp increased its position in Scorpio Tankers by 319.0% during the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company's stock worth $34,000 after buying an additional 319 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its position in Scorpio Tankers by 5.3% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 6,679 shares of the shipping company's stock worth $543,000 after buying an additional 334 shares during the period. 54.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Evercore ISI boosted their price objective on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. Stifel Nicolaus increased their price target on Scorpio Tankers from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Bank of America cut their target price on Scorpio Tankers from $85.00 to $82.00 and set a "neutral" rating for the company in a research report on Tuesday, July 23rd. StockNews.com cut Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $90.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $88.80.

Scorpio Tankers Price Performance

Shares of STNG stock traded up $1.28 on Tuesday, hitting $71.00. 1,048,976 shares of the company's stock were exchanged, compared to its average volume of 928,173. The company has a 50 day moving average of $72.06 and a 200 day moving average of $74.59. The stock has a market cap of $3.87 billion, a P/E ratio of 6.47, a price-to-earnings-growth ratio of 1.88 and a beta of 0.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. Scorpio Tankers Inc. has a 12 month low of $47.88 and a 12 month high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, topping analysts' consensus estimates of $3.52 by $0.08. The firm had revenue of $380.70 million during the quarter, compared to analysts' expectations of $368.62 million. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The business's revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.41 earnings per share. On average, equities research analysts predict that Scorpio Tankers Inc. will post 12.71 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Thursday, August 15th. Scorpio Tankers's dividend payout ratio (DPR) is 14.84%.

About Scorpio Tankers

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.