Public Employees Retirement System of Ohio Acquires New Stake in Scorpio Tankers Inc. (NYSE:STNG)

Public Employees Retirement System of Ohio acquired a new position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 118,639 shares of the shipping company's stock, valued at approximately $8,459,000. Public Employees Retirement System of Ohio owned about 0.23% of Scorpio Tankers as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. EverSource Wealth Advisors LLC grew 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 worth $25,000 after purchasing an additional 291 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Scorpio Tankers in the 3rd quarter valued at about $28,000. Fifth Third Bancorp raised its stake in 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 buying an additional 319 shares during the period. Quarry LP boosted its holdings in Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company's stock worth $54,000 after acquiring an additional 229 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its stake in 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 acquiring an additional 177 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STNG has been the topic of a number of recent research reports. Fearnley Fonds upgraded Scorpio Tankers to a "hold" rating in a report on Friday, September 27th. StockNews.com cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Stifel Nicolaus cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating and dropped their price target for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Evercore ISI decreased their price target on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Finally, Bank of America decreased their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Scorpio Tankers currently has a consensus rating of "Hold" and a consensus target price of $75.40.

Scorpio Tankers Stock Performance

STNG traded up $1.08 during midday trading on Friday, reaching $48.31. The company had a trading volume of 655,175 shares, compared to its average volume of 913,588. Scorpio Tankers Inc. has a 12-month low of $46.66 and a 12-month high of $84.67. The business has a 50-day moving average price of $57.53 and a two-hundred day moving average price of $68.98. The stock has a market cap of $2.44 billion, a PE ratio of 3.46 and a beta of 0.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $267.91 million. During the same quarter in the prior year, the company earned $1.91 EPS. The firm's quarterly revenue was down 8.0% compared to the same quarter last year. On average, sell-side analysts expect that Scorpio Tankers Inc. will post 11.04 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.31%. Scorpio Tankers's dividend payout ratio (DPR) is 11.47%.

About Scorpio Tankers

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.