L & S Advisors Inc Increases Position in Scorpio Tankers Inc. (NYSE:STNG)

L & S Advisors Inc lifted its stake in Scorpio Tankers Inc. (NYSE:STNG) by 17.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 36,770 shares of the shipping company’s stock after purchasing an additional 5,396 shares during the quarter. L & S Advisors Inc’s holdings in Scorpio Tankers were worth $2,989,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in Scorpio Tankers by 5.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock valued at $106,800,000 after buying an additional 62,600 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Scorpio Tankers during the second quarter valued at about $2,721,000. Qsemble Capital Management LP acquired a new position in shares of Scorpio Tankers during the second quarter valued at about $681,000. American Century Companies Inc. raised its position in shares of Scorpio Tankers by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock valued at $96,391,000 after purchasing an additional 199,858 shares during the last quarter. Finally, Headlands Technologies LLC grew its position in Scorpio Tankers by 1,912.2% during the 2nd quarter. Headlands Technologies LLC now owns 986 shares of the shipping company’s stock worth $80,000 after purchasing an additional 937 shares during the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Up 1.0 %

Scorpio Tankers stock opened at $68.68 on Tuesday. Scorpio Tankers Inc. has a 52 week low of $47.88 and a 52 week high of $84.67. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 6.37, a price-to-earnings-growth ratio of 1.85 and a beta of 0.16. The business’s 50-day moving average price is $72.88 and its 200 day moving average price is $74.51. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.52 by $0.08. The company had revenue of $380.70 million for the quarter, compared to analyst estimates of $368.62 million. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the business earned $2.41 earnings per share. As a group, sell-side analysts anticipate that Scorpio Tankers Inc. will post 12.71 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.33%. Scorpio Tankers’s dividend payout ratio (DPR) is 14.84%.

Analyst Upgrades and Downgrades

STNG has been the subject of a number of research analyst reports. Stifel Nicolaus raised their price target on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Evercore ISI lifted their price target 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 cut their price objective on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Finally, StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Scorpio Tankers presently has an average rating of “Moderate Buy” and an average price target of $84.17.

Scorpio Tankers Company 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.