Algert Global LLC Has $2.70 Million Stake in Scorpio Tankers Inc. (NYSE:STNG)

Algert Global LLC lessened its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 29.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,920 shares of the shipping company's stock after selling 15,850 shares during the quarter. Algert Global LLC owned 0.08% of Scorpio Tankers worth $2,704,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of STNG. LSV Asset Management raised its stake in Scorpio Tankers by 8.5% in the second quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company's stock valued at $162,222,000 after purchasing an additional 156,414 shares in the last quarter. International Assets Investment Management LLC raised its stake in Scorpio Tankers by 8,249.0% during the third quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company's stock worth $134,057,000 after acquiring an additional 1,857,668 shares in the last quarter. Renaissance Technologies LLC raised its stake in Scorpio Tankers by 5.0% during the second quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company's stock worth $106,800,000 after acquiring an additional 62,600 shares in the last quarter. American Century Companies Inc. raised its stake in Scorpio Tankers by 20.3% during the second quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company's stock worth $96,391,000 after acquiring an additional 199,858 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Scorpio Tankers by 176.6% during the first quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company's stock worth $61,574,000 after acquiring an additional 549,395 shares in the last quarter. Institutional investors own 54.64% of the company's stock.

Wall Street Analyst Weigh In

STNG has been the subject of several research analyst reports. Bank of America lowered their target price on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a research note on Tuesday, October 22nd. Jefferies Financial Group reduced their price target on Scorpio Tankers from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Fearnley Fonds upgraded Scorpio Tankers to a "hold" rating in a report on Friday, September 27th. StockNews.com cut Scorpio Tankers from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Finally, Evercore ISI reduced their price target on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $76.40.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $51.21 on Wednesday. The business's 50 day simple moving average is $63.50 and its 200 day simple moving average is $71.88. Scorpio Tankers Inc. has a one year low of $50.92 and a one year high of $84.67. The stock has a market capitalization of $2.59 billion, a PE ratio of 3.67 and a beta of 0.18. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating 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 business had revenue of $267.99 million for the quarter, compared to analysts' expectations of $267.91 million. During the same period in the prior year, the business posted $1.91 earnings per share. The firm's revenue was down 8.0% on a year-over-year basis. As a group, research analysts forecast that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers's payout ratio is 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.