Chesapeake Capital Corp IL Trims Stock Position in Scorpio Tankers Inc. (NYSE:STNG)

Chesapeake Capital Corp IL decreased its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 51.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,492 shares of the shipping company’s stock after selling 5,715 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Scorpio Tankers were worth $446,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp grew its stake in Scorpio Tankers by 319.0% during the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after buying an additional 319 shares during the last quarter. Global Retirement Partners LLC grew its position in Scorpio Tankers by 8,800.0% during the 1st quarter. Global Retirement Partners LLC now owns 534 shares of the shipping company’s stock worth $38,000 after purchasing an additional 528 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Scorpio Tankers in the first quarter valued at $58,000. Blue Trust Inc. raised its holdings in shares of Scorpio Tankers by 7,942.9% in the second quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company’s stock valued at $92,000 after buying an additional 1,112 shares during the last quarter. Finally, CWM LLC boosted 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 buying an additional 506 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

STNG opened at $68.53 on Tuesday. Scorpio Tankers Inc. has a 1-year low of $47.88 and a 1-year high of $84.67. The stock has a market cap of $3.64 billion, a P/E ratio of 6.36, a P/E/G ratio of 1.20 and a beta of 0.16. The stock’s 50 day simple moving average is $74.16 and its 200 day simple moving average is $74.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.08. The business had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the business posted $2.41 earnings per share. As a group, equities analysts anticipate that Scorpio Tankers Inc. will post 12.89 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders 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 2.33%. The ex-dividend date of this dividend is Thursday, August 15th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 14.84%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STNG. StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Evercore ISI boosted their target price on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Bank of America reduced their price target on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Stifel Nicolaus upped their price objective on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.17.

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.