Versor Investments LP boosted its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 359.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,803 shares of the shipping company's stock after acquiring an additional 13,142 shares during the quarter. Versor Investments LP's holdings in Scorpio Tankers were worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of STNG. Janney Montgomery Scott LLC acquired a new stake in shares of Scorpio Tankers in the 1st quarter valued at approximately $596,000. SG Americas Securities LLC increased its stake in Scorpio Tankers by 91.4% in the 1st quarter. SG Americas Securities LLC now owns 6,334 shares of the shipping company's stock valued at $453,000 after purchasing an additional 3,025 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Scorpio Tankers by 6.9% in the 1st quarter. Russell Investments Group Ltd. now owns 152,794 shares of the shipping company's stock valued at $10,932,000 after purchasing an additional 9,913 shares in the last quarter. ProShare Advisors LLC increased its stake in Scorpio Tankers by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,587 shares of the shipping company's stock valued at $614,000 after purchasing an additional 676 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its stake in Scorpio Tankers by 8.8% in the 1st quarter. Bleakley Financial Group LLC now owns 8,908 shares of the shipping company's stock valued at $637,000 after purchasing an additional 717 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.
Scorpio Tankers Stock Down 2.7 %
Shares of STNG traded down $1.45 during midday trading on Tuesday, reaching $53.12. 766,290 shares of the company were exchanged, compared to its average volume of 918,353. 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 1-year low of $52.68 and a 1-year high of $84.67. The stock has a 50-day moving average price of $66.31 and a 200-day moving average price of $73.20. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 3.80 and a beta of 0.18.
Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS 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 business had revenue of $267.99 million for the quarter, compared to analysts' expectations of $267.91 million. During the same quarter in the previous year, the firm posted $1.91 earnings per share. The company's revenue was down 8.0% compared to the same quarter last year. Research analysts expect that Scorpio Tankers Inc. will post 11.13 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. Investors of record on Friday, November 22nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers's dividend payout ratio (DPR) is 11.47%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on STNG. Bank of America dropped their price target on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a research report on Tuesday, October 22nd. Evercore ISI dropped their price target on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Stifel Nicolaus downgraded Scorpio Tankers from a "buy" rating to a "hold" rating and dropped their price target for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Fearnley Fonds raised Scorpio Tankers to a "hold" rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $78.40.
Get Our Latest Research Report on STNG
About Scorpio Tankers
(
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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