Scorpio Tankers Inc. (NYSE:STNG) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC boosted its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 54.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,816 shares of the shipping company's stock after purchasing an additional 19,298 shares during the period. Tidal Investments LLC owned about 0.11% of Scorpio Tankers worth $3,908,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of STNG. EverSource Wealth Advisors LLC increased its holdings 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 purchasing an additional 291 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Scorpio Tankers in the third quarter worth about $28,000. Fifth Third Bancorp increased its stake in shares of Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company's stock valued at $34,000 after purchasing an additional 319 shares in the last quarter. Quarry LP increased its stake in shares of Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company's stock valued at $54,000 after purchasing an additional 229 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its position in shares of Scorpio Tankers by 34.2% during 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 in the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on STNG shares. Jefferies Financial Group cut their target price on shares of Scorpio Tankers from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Thursday. Stifel Nicolaus downgraded shares of Scorpio Tankers from a "buy" rating to a "hold" rating and reduced their target price for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Evercore ISI dropped their target price 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. Fearnley Fonds raised shares of Scorpio Tankers to a "hold" rating in a research report on Friday, September 27th. Finally, Bank of America decreased their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $75.40.

Scorpio Tankers Stock Performance

STNG stock traded up $1.08 during midday trading on Friday, hitting $48.31. 655,175 shares of the stock traded hands, compared to its average volume of 788,459. 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 firm has a market cap of $2.44 billion, a P/E ratio of 3.46 and a beta of 0.13. Scorpio Tankers Inc. has a 1-year low of $46.66 and a 1-year high of $84.67. The stock's fifty day simple moving average is $57.53 and its 200-day simple moving average is $68.81.

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 net margin of 52.40% and a return on equity of 22.56%. The firm had revenue of $267.99 million for the quarter, compared to the consensus estimate of $267.91 million. During the same period last year, the firm posted $1.91 earnings per share. The company's revenue for the quarter was down 8.0% on a year-over-year basis. On average, analysts expect that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers's dividend payout ratio is presently 11.47%.

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.