Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Sapient Capital LLC

Sapient Capital LLC reduced its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 11.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,161 shares of the shipping company's stock after selling 15,314 shares during the quarter. Sapient Capital LLC owned approximately 0.21% of Scorpio Tankers worth $8,140,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Valeo Financial Advisors LLC bought a new stake in shares of Scorpio Tankers during the 3rd quarter valued at $316,000. SG Americas Securities LLC lifted its holdings in Scorpio Tankers by 34.8% in the 3rd quarter. SG Americas Securities LLC now owns 1,777 shares of the shipping company's stock worth $127,000 after purchasing an additional 459 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Scorpio Tankers during the 2nd quarter valued at approximately $135,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Scorpio Tankers by 34.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company's stock worth $57,000 after buying an additional 177 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Scorpio Tankers during the second quarter valued at $799,000. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Stock Down 1.9 %

Shares of STNG traded down $1.35 during midday trading on Monday, reaching $69.54. 814,291 shares of the stock were exchanged, compared to its average volume of 906,429. 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 moving average is $71.01 and its two-hundred day moving average is $74.66. The company has a market capitalization of $3.70 billion, a P/E ratio of 5.44, a PEG ratio of 1.94 and a beta of 0.15. Scorpio Tankers Inc. has a 52 week low of $52.68 and a 52 week high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $368.62 million. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The company's quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the firm earned $2.41 earnings per share. On average, sell-side analysts anticipate that Scorpio Tankers Inc. will post 12.71 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.30%. Scorpio Tankers's payout ratio is 12.58%.

Analyst Upgrades and Downgrades

STNG has been the topic of several recent research reports. Stifel Nicolaus upped their price objective on Scorpio Tankers from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Evercore ISI boosted 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. Jefferies Financial Group reiterated a "buy" rating and issued a $90.00 price target on shares of Scorpio Tankers in a research report on Tuesday, July 30th. StockNews.com downgraded Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Finally, Fearnley Fonds upgraded Scorpio Tankers to a "hold" rating in a report on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.80.

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.