Navellier & Associates Inc. Purchases 508 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Navellier & Associates Inc. lifted its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,474 shares of the shipping company’s stock after buying an additional 508 shares during the period. Navellier & Associates Inc.’s holdings in Scorpio Tankers were worth $747,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of STNG. EverSource Wealth Advisors LLC boosted its holdings in shares of Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after purchasing an additional 291 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Scorpio Tankers in the third quarter valued at $28,000. Fifth Third Bancorp lifted its stake in Scorpio Tankers by 319.0% during 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 during the last quarter. Quarry LP boosted its holdings in shares of Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after buying an additional 229 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its position in shares of Scorpio Tankers by 34.2% during 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. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 3.2 %

STNG stock opened at $52.91 on Friday. The company’s 50 day simple moving average is $64.44 and its 200-day simple moving average is $72.35. The firm has a market capitalization of $2.67 billion, a P/E ratio of 3.79 and a beta of 0.18. Scorpio Tankers Inc. has a 52-week low of $52.07 and a 52-week high of $84.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The firm had revenue of $267.99 million during the quarter, compared to analysts’ expectations of $267.91 million. During the same period in the previous year, the company earned $1.91 earnings per share. The company’s revenue was down 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Scorpio Tankers Inc. will post 11.04 EPS for the current 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is presently 11.47%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STNG. Bank of America dropped their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price objective for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group lowered their price target on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Scorpio Tankers presently has a consensus rating of “Hold” and a consensus target price of $76.40.

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.