Tidal Investments LLC Increases Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Tidal Investments LLC increased its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 17.7% in the first quarter, Holdings Channel.com reports. The firm owned 33,504 shares of the shipping company’s stock after acquiring an additional 5,038 shares during the period. Tidal Investments LLC’s holdings in Scorpio Tankers were worth $2,397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in STNG. LSV Asset Management increased its stake in shares of Scorpio Tankers by 118.1% in the first quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company’s stock worth $131,594,000 after buying an additional 995,978 shares during the period. International Assets Investment Management LLC grew its holdings in Scorpio Tankers by 4,706.2% in the 4th quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock worth $59,025,000 after acquiring an additional 950,600 shares during the last quarter. Norges Bank purchased a new position in shares of Scorpio Tankers in the fourth quarter valued at about $34,009,000. Vanguard Group Inc. raised its stake in shares of Scorpio Tankers by 176.6% during the first quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock valued at $61,574,000 after acquiring an additional 549,395 shares during the last quarter. Finally, Hartree Partners LP grew its stake in shares of Scorpio Tankers by 634.5% in the first quarter. Hartree Partners LP now owns 521,498 shares of the shipping company’s stock worth $37,313,000 after purchasing an additional 450,498 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

Analyst Ratings Changes

STNG has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of Scorpio Tankers in a research note on Tuesday. Stifel Nicolaus lifted their price target on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Bank of America decreased their price objective on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Finally, StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Scorpio Tankers currently has an average rating of “Moderate Buy” and a consensus target price of $84.17.

Scorpio Tankers Stock Down 3.2 %

STNG stock traded down $2.42 during midday trading on Friday, hitting $74.07. The company’s stock had a trading volume of 213,231 shares, compared to its average volume of 969,905. The firm’s 50-day moving average is $79.06 and its 200-day moving average is $73.59. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.35. Scorpio Tankers Inc. has a 12 month low of $47.88 and a 12 month high of $84.67. The company has a market cap of $3.94 billion, a PE ratio of 7.10, a P/E/G ratio of 1.34 and a beta of 0.17.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 24.62%. The firm had revenue of $380.70 million during the quarter, compared to analyst estimates of $368.62 million. During the same period in the previous year, the business posted $2.41 earnings per share. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities research analysts forecast that Scorpio Tankers Inc. will post 13.11 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 15th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Thursday, August 15th. Scorpio Tankers’s payout ratio is currently 14.84%.

About Scorpio Tankers

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.