Gordian Capital Singapore Pte Ltd Acquires New Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Gordian Capital Singapore Pte Ltd purchased a new stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,830 shares of the shipping company's stock, valued at approximately $799,000.

Several other institutional investors have also recently made changes to their positions in STNG. Truist Financial Corp increased its holdings in shares of Scorpio Tankers by 1.4% in the second 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. Epoch Investment Partners Inc. grew its stake in Scorpio Tankers by 0.7% in the 4th quarter. Epoch Investment Partners Inc. now owns 22,685 shares of the shipping company's stock valued at $1,379,000 after buying an additional 150 shares during the last quarter. Quarry LP raised its holdings in Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company's stock valued at $54,000 after acquiring an additional 229 shares during the period. AlphaMark Advisors LLC lifted its position in Scorpio Tankers by 5.9% during the first quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company's stock worth $358,000 after acquiring an additional 281 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of 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 acquiring an additional 291 shares during the period. Institutional investors and hedge funds own 54.64% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on STNG shares. Bank of America lowered 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 lifted their target price on Scorpio Tankers from $99.00 to $100.00 and gave the stock an "outperform" rating in a report on Tuesday, July 23rd. StockNews.com cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Fearnley Fonds raised shares of Scorpio Tankers to a "hold" rating in a report on Friday, September 27th. Finally, Stifel Nicolaus lifted their price target on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $88.80.

Scorpio Tankers Price Performance

Shares of NYSE:STNG traded up $2.00 during midday trading on Wednesday, hitting $73.26. The stock had a trading volume of 918,269 shares, compared to its average volume of 921,242. The company's 50-day moving average price is $71.43 and its 200-day moving average price is $74.63. Scorpio Tankers Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $84.67. 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 capitalization of $3.90 billion, a P/E ratio of 6.61, a price-to-earnings-growth ratio of 1.96 and a beta of 0.16.

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

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Thursday, August 15th. Scorpio Tankers's dividend payout ratio is presently 14.84%.

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.