Sei Investments Co. Has $3.20 Million Stake in Scorpio Tankers Inc. (NYSE:STNG)

Sei Investments Co. cut its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 15.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,392 shares of the shipping company's stock after selling 7,460 shares during the period. Sei Investments Co. owned approximately 0.07% of Scorpio Tankers worth $3,203,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Bluefin Capital Management LLC bought a new stake in shares of Scorpio Tankers during the 4th quarter valued at $1,003,000. Janney Montgomery Scott LLC acquired a new stake in Scorpio Tankers during the first quarter worth about $596,000. BNP Paribas Financial Markets grew its stake in Scorpio Tankers by 37.0% during the first quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company's stock worth $6,356,000 after buying an additional 23,975 shares in the last quarter. Twin Focus Capital Partners LLC bought a new position in Scorpio Tankers in the 4th quarter valued at about $5,115,000. Finally, Acadian Asset Management LLC raised its position in shares of Scorpio Tankers by 101.4% in the 1st quarter. Acadian Asset Management LLC now owns 19,456 shares of the shipping company's stock valued at $1,391,000 after buying an additional 9,798 shares in the last quarter. 54.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. StockNews.com lowered shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Fearnley Fonds raised Scorpio Tankers to a "hold" rating in a report on Friday, September 27th. Stifel Nicolaus raised 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. Jefferies Financial Group reiterated a "buy" rating and issued a $90.00 target price on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Finally, Evercore ISI increased their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an "outperform" rating in a report on Tuesday, July 23rd. Three 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 a consensus rating of "Moderate Buy" and an average target price of $88.80.

Scorpio Tankers Trading Down 1.8 %

Shares of STNG stock traded down $1.37 during mid-day trading on Friday, reaching $72.94. 486,978 shares of the stock traded hands, compared to its average volume of 918,028. The stock's fifty day simple moving average is $71.41 and its two-hundred day simple moving average is $74.62. Scorpio Tankers Inc. has a 1-year low of $49.11 and a 1-year 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 cap of $3.88 billion, a price-to-earnings ratio of 6.77, 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 results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company's revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.41 EPS. On average, research analysts anticipate that Scorpio Tankers Inc. will post 12.71 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders 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 2.19%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers's 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.