Olympiad Research LP purchased a new position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,095 shares of the shipping company's stock, valued at approximately $791,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Scorpio Tankers by 970.0% in the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock worth $25,000 after buying an additional 291 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Scorpio Tankers in the 3rd quarter worth approximately $28,000. Fifth Third Bancorp raised its holdings in shares of Scorpio Tankers by 319.0% during the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company's stock worth $34,000 after acquiring an additional 319 shares in the last quarter. Quarry LP boosted its position in shares of Scorpio Tankers by 52.8% during 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 last quarter. Finally, Newbridge Financial Services Group Inc. grew 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 valued at $57,000 after purchasing an additional 177 shares in the last quarter. Institutional investors own 54.64% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on STNG shares. Evercore ISI decreased their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Stifel Nicolaus downgraded shares of Scorpio Tankers from a "buy" rating to a "hold" rating and lowered their price target for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Bank of America dropped their price target on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a research report on Tuesday, October 22nd. StockNews.com lowered Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Finally, Fearnley Fonds upgraded Scorpio Tankers to a "hold" rating in a report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $78.40.
Get Our Latest Analysis on STNG
Scorpio Tankers Trading Down 1.9 %
Shares of NYSE:STNG traded down $1.06 during trading hours on Thursday, hitting $55.45. 1,079,061 shares of the company's stock traded hands, compared to its average volume of 919,401. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The business has a fifty day moving average price of $67.29 and a 200-day moving average price of $73.51. Scorpio Tankers Inc. has a 1 year low of $52.68 and a 1 year high of $84.67. The firm has a market capitalization of $2.80 billion, a P/E ratio of 4.05 and a beta of 0.18.
Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company had revenue of $267.99 million during the quarter, compared to analysts' expectations of $267.91 million. During the same quarter in the previous year, the business earned $1.91 EPS. Scorpio Tankers's revenue was down 8.0% compared to the same quarter last year. Equities analysts expect that Scorpio Tankers Inc. will post 11.13 earnings per share for the current year.
Scorpio Tankers Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.89%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers's dividend payout ratio is presently 11.47%.
Scorpio Tankers Profile
(
Free Report)
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.
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