Olympiad Research LP Takes Position in Scorpio Tankers Inc. (NYSE:STNG)

Olympiad Research LP purchased a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,095 shares of the shipping company’s stock, valued at approximately $791,000.

Several other institutional investors and hedge funds have also modified their holdings of STNG. EverSource Wealth Advisors LLC boosted its holdings in Scorpio Tankers by 970.0% in the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after purchasing an additional 291 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Scorpio Tankers in the third quarter worth $28,000. Fifth Third Bancorp boosted its holdings in Scorpio Tankers by 319.0% in the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after purchasing an additional 319 shares in the last quarter. Quarry LP boosted its holdings in Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after purchasing an additional 229 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its holdings in Scorpio Tankers by 34.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after purchasing an additional 177 shares in the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Down 1.7 %

Shares of STNG opened at $56.51 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The firm has a market capitalization of $2.86 billion, a P/E ratio of 4.05 and a beta of 0.18. Scorpio Tankers Inc. has a 52 week low of $52.68 and a 52 week high of $84.67. The company has a 50-day simple moving average of $67.29 and a 200-day simple moving average of $73.51.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.61 by $0.14. The business had revenue of $267.99 million for the quarter, compared to analysts’ expectations of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. Scorpio Tankers’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.91 earnings per share. On average, equities research analysts expect that Scorpio Tankers Inc. will post 11.13 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is currently 11.47%.

Analyst Ratings Changes

A number of brokerages recently issued reports on STNG. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Jefferies Financial Group reissued a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research report on Tuesday, October 29th. Evercore ISI cut their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Bank of America cut their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Scorpio Tankers currently has an average rating of “Hold” and an average price target of $78.40.

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.