Centiva Capital LP Purchases New Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Centiva Capital LP acquired a new position in Scorpio Tankers Inc. (NYSE:STNG) in the 3rd quarter, HoldingsChannel reports. The fund acquired 12,578 shares of the shipping company’s stock, valued at approximately $897,000.

Other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers purchased a new stake in shares of Scorpio Tankers in the first quarter worth approximately $2,107,000. CWM LLC increased its stake in Scorpio Tankers by 39.4% in the second quarter. CWM LLC now owns 1,791 shares of the shipping company’s stock worth $146,000 after purchasing an additional 506 shares during the period. Simplicity Wealth LLC lifted its position in shares of Scorpio Tankers by 3.8% during the second quarter. Simplicity Wealth LLC now owns 9,241 shares of the shipping company’s stock worth $751,000 after purchasing an additional 342 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of Scorpio Tankers by 5.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 6,679 shares of the shipping company’s stock valued at $543,000 after purchasing an additional 334 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Scorpio Tankers in the second quarter worth about $1,098,000. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 1.2 %

Shares of NYSE STNG opened at $49.55 on Friday. Scorpio Tankers Inc. has a 12-month low of $49.16 and a 12-month high of $84.67. The stock’s fifty day simple moving average is $60.42 and its two-hundred day simple moving average is $70.37. The stock has a market capitalization of $2.50 billion, a PE ratio of 3.55 and a beta of 0.13. 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 (NYSE:STNG) last issued its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company had revenue of $267.99 million for the quarter, compared to the consensus estimate of $267.91 million. During the same quarter last year, the company earned $1.91 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, analysts expect that Scorpio Tankers Inc. will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s payout ratio is currently 11.47%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STNG. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Evercore ISI dropped their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Bank of America decreased their target price 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. Jefferies Financial Group dropped their price target on Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and cut their price target for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Scorpio Tankers has a consensus rating of “Hold” and an average target price of $76.40.

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.