Interval Partners LP Acquires New Stake in Scorpio Tankers Inc. (NYSE:STNG)

Interval Partners LP bought a new position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,855 shares of the shipping company's stock, valued at approximately $1,208,000.

A number of other institutional investors have also recently made changes to their positions in the stock. LSV Asset Management increased its position in shares of Scorpio Tankers by 118.1% during the first quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company's stock worth $131,594,000 after buying an additional 995,978 shares during the period. Norges Bank acquired a new position in shares of Scorpio Tankers in the 4th quarter valued at about $34,009,000. Vanguard Group Inc. boosted its position in shares of Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company's stock valued at $61,574,000 after purchasing an additional 549,395 shares in the last quarter. Hartree Partners LP grew its stake in Scorpio Tankers by 634.5% during the first quarter. Hartree Partners LP now owns 521,498 shares of the shipping company's stock worth $37,313,000 after purchasing an additional 450,498 shares during the period. Finally, Acadian Asset Management LLC grew its stake in Scorpio Tankers by 1,357.2% during the second quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company's stock worth $23,034,000 after purchasing an additional 264,049 shares during the period. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Stock Down 2.1 %

NYSE STNG traded down $1.51 during trading hours on Wednesday, hitting $69.49. The company's stock had a trading volume of 582,443 shares, compared to its average volume of 926,306. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29. The company's 50-day simple moving average is $71.80 and its two-hundred day simple moving average is $74.57. The company has a market capitalization of $3.69 billion, a PE ratio of 6.45, a price-to-earnings-growth ratio of 1.90 and a beta of 0.16. Scorpio Tankers Inc. has a 52 week low of $47.88 and a 52 week high of $84.67.

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

Scorpio Tankers Announces Dividend

The company also recently declared 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 yield of 2.30%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers's dividend payout ratio (DPR) is presently 14.84%.

Wall Street Analysts Forecast Growth

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

Scorpio Tankers 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.