Scorpio Tankers Inc. (NYSE:STNG) Shares Bought by Quantbot Technologies LP

Quantbot Technologies LP lifted its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 85.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,250 shares of the shipping company's stock after acquiring an additional 23,176 shares during the quarter. Quantbot Technologies LP owned approximately 0.10% of Scorpio Tankers worth $3,583,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in shares of Scorpio Tankers by 25.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 55,341 shares of the shipping company's stock worth $3,946,000 after purchasing an additional 11,108 shares during the period. Independent Advisor Alliance purchased a new position in Scorpio Tankers in the third quarter valued at about $2,221,000. Daiwa Securities Group Inc. raised its holdings in Scorpio Tankers by 37.1% in the third quarter. Daiwa Securities Group Inc. now owns 21,952 shares of the shipping company's stock worth $1,565,000 after purchasing an additional 5,941 shares in the last quarter. Citigroup Inc. lifted its position in shares of Scorpio Tankers by 120.1% during the third quarter. Citigroup Inc. now owns 58,576 shares of the shipping company's stock valued at $4,176,000 after buying an additional 31,960 shares during the last quarter. Finally, Navellier & Associates Inc. boosted its holdings in shares of Scorpio Tankers by 5.1% in the 3rd quarter. Navellier & Associates Inc. now owns 10,474 shares of the shipping company's stock valued at $747,000 after buying an additional 508 shares in the last quarter. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Price Performance

STNG traded down $0.52 on Thursday, hitting $50.69. 671,973 shares of the company's stock were exchanged, compared to its average volume of 920,307. The firm has a 50-day moving average price of $62.76 and a 200-day moving average price of $71.55. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 3.63 and a beta of 0.18. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. Scorpio Tankers Inc. has a fifty-two week low of $50.13 and a fifty-two week high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.14. The company had revenue of $267.99 million during the quarter, compared to the consensus estimate of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. Scorpio Tankers's quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.91 EPS. As a group, equities analysts anticipate that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers's dividend payout ratio (DPR) is presently 11.47%.

Analyst Ratings Changes

Several brokerages recently weighed in on STNG. Evercore ISI dropped their target price on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Jefferies Financial Group lowered their price target on shares of Scorpio Tankers from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Stifel Nicolaus cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Bank of America reduced their price target on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a report on Tuesday, October 22nd. Finally, Fearnley Fonds raised shares of Scorpio Tankers to a "hold" rating in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of "Hold" and an average target price of $76.40.

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.