The Manufacturers Life Insurance Company boosted its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 25.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,341 shares of the shipping company's stock after purchasing an additional 11,108 shares during the period. The Manufacturers Life Insurance Company owned 0.11% of Scorpio Tankers worth $3,946,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of STNG. Cetera Investment Advisers acquired a new stake in shares of Scorpio Tankers in the first quarter valued at approximately $2,107,000. CWM LLC increased its stake in shares of Scorpio Tankers by 39.4% during the second quarter. CWM LLC now owns 1,791 shares of the shipping company's stock worth $146,000 after purchasing an additional 506 shares during the period. Simplicity Wealth LLC increased its stake in shares of Scorpio Tankers by 3.8% during the second quarter. Simplicity Wealth LLC now owns 9,241 shares of the shipping company's stock worth $751,000 after purchasing an additional 342 shares during the period. Dynamic Advisor Solutions LLC increased its stake in shares of Scorpio Tankers by 5.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 6,679 shares of the shipping company's stock worth $543,000 after purchasing an additional 334 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Scorpio Tankers during the second quarter worth approximately $1,098,000. 54.64% of the stock is owned by institutional investors and hedge funds.
Scorpio Tankers Trading Down 1.5 %
NYSE:STNG traded down $0.75 during mid-day trading on Friday, hitting $48.80. 636,043 shares of the stock traded hands, compared to its average volume of 911,607. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 3.50 and a beta of 0.13. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. Scorpio Tankers Inc. has a 52 week low of $48.13 and a 52 week high of $84.67. The firm's 50 day moving average is $59.97 and its two-hundred day moving average is $70.14.
Scorpio Tankers (NYSE:STNG - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $267.91 million. During the same quarter in the prior year, the company earned $1.91 EPS. The company's revenue was down 8.0% compared to the same quarter last year. On average, equities research analysts predict that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.
Scorpio Tankers Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers's dividend payout ratio (DPR) is presently 11.47%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on STNG shares. Bank of America decreased their price target on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 22nd. Stifel Nicolaus lowered Scorpio Tankers from a "buy" rating to a "hold" rating and decreased their target price for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. StockNews.com downgraded Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Jefferies Financial Group dropped their price objective on Scorpio Tankers from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th. Finally, 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 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 data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $76.40.
Check Out Our Latest Stock Analysis on Scorpio Tankers
Scorpio Tankers Company 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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