Algert Global LLC Has $4.37 Million Stock Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Algert Global LLC lifted its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 28.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,770 shares of the shipping company's stock after buying an additional 11,920 shares during the period. Algert Global LLC owned approximately 0.10% of Scorpio Tankers worth $4,371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in Scorpio Tankers by 970.0% in the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock valued at $25,000 after purchasing an additional 291 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Scorpio Tankers by 319.0% in the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company's stock valued at $34,000 after purchasing an additional 319 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Scorpio Tankers in the first quarter valued at about $58,000. Headlands Technologies LLC boosted its holdings in Scorpio Tankers by 1,912.2% in the second quarter. Headlands Technologies LLC now owns 986 shares of the shipping company's stock valued at $80,000 after purchasing an additional 937 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in 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 purchasing an additional 1,112 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on STNG. Fearnley Fonds raised Scorpio Tankers to a "hold" rating in a report on Friday. Stifel Nicolaus upped their price objective on Scorpio Tankers from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. StockNews.com cut Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Bank of America dropped their price target on Scorpio Tankers from $85.00 to $82.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 23rd. Finally, Evercore ISI increased their price target on Scorpio Tankers from $99.00 to $100.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Scorpio Tankers presently has an average rating of "Moderate Buy" and a consensus target price of $88.80.

Scorpio Tankers Price Performance

NYSE STNG traded up $0.50 on Tuesday, reaching $71.80. 513,366 shares of the stock traded hands, compared to its average volume of 919,671. The firm's fifty day simple moving average is $71.53 and its 200 day simple moving average is $74.63. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 6.60, a P/E/G ratio of 1.96 and a beta of 0.16. 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 issued its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.52 by $0.08. The firm had revenue of $380.70 million during the quarter, compared to analyst estimates of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The firm's quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the company posted $2.41 EPS. As a group, research analysts predict that Scorpio Tankers Inc. will post 12.71 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers's dividend payout ratio is presently 14.84%.

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.