Lighthouse Investment Partners LLC Sells 14,642 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Lighthouse Investment Partners LLC lowered its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 82.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,054 shares of the shipping company's stock after selling 14,642 shares during the quarter. Lighthouse Investment Partners LLC's holdings in Scorpio Tankers were worth $248,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock worth $25,000 after purchasing an additional 291 shares during the period. Fifth Third Bancorp boosted its stake in Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company's stock worth $34,000 after purchasing an additional 319 shares during the period. Fidelis Capital Partners LLC purchased a new position in Scorpio Tankers during the 1st quarter valued at about $58,000. Headlands Technologies LLC increased its position in shares of Scorpio Tankers by 1,912.2% during the second quarter. Headlands Technologies LLC now owns 986 shares of the shipping company's stock valued at $80,000 after buying an additional 937 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Scorpio Tankers by 7,942.9% in the second quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company's stock valued at $92,000 after acquiring an additional 1,112 shares during the period. Hedge funds and other institutional investors own 54.64% of the company's stock.

Analysts Set New Price Targets

STNG has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a "buy" rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Bank of America decreased their target price on Scorpio Tankers from $85.00 to $82.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 23rd. Evercore ISI boosted their price objective on Scorpio Tankers from $99.00 to $100.00 and gave the stock an "outperform" rating in a report on Tuesday, July 23rd. Stifel Nicolaus raised their target price on shares of 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 cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.80.

Scorpio Tankers Trading Down 0.8 %

NYSE:STNG traded down $0.58 during midday trading on Monday, reaching $71.07. 381,772 shares of the stock traded hands, compared to its average volume of 920,779. The stock has a market capitalization of $3.78 billion, a P/E ratio of 6.65, a PEG ratio of 1.94 and a beta of 0.16. The company has a fifty day moving average of $71.66 and a 200 day moving average of $74.63. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67. 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 released its earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.52 by $0.08. The business had revenue of $380.70 million for 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%. The company's revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.41 earnings per share. On average, research analysts predict that Scorpio Tankers Inc. will post 12.71 EPS for the current year.

Scorpio Tankers Dividend Announcement

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