Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Algert Global LLC

Algert Global LLC reduced its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 29.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,920 shares of the shipping company’s stock after selling 15,850 shares during the period. Algert Global LLC owned about 0.08% of Scorpio Tankers worth $2,704,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in STNG. EverSource Wealth Advisors LLC grew its stake in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 291 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Scorpio Tankers in the third quarter valued at about $28,000. Fifth Third Bancorp increased its stake in shares of 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 in the last quarter. Quarry LP increased its stake in shares of Scorpio Tankers by 52.8% during 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. raised its position in shares of Scorpio Tankers by 34.2% during the 2nd 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 during the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STNG has been the subject of several research reports. Evercore ISI cut their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Bank of America decreased their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their target price for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of 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 given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $76.40.

Scorpio Tankers Stock Performance

NYSE STNG opened at $51.21 on Wednesday. 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 stock’s fifty day moving average is $63.50 and its two-hundred day moving average is $71.88. The firm has a market capitalization of $2.59 billion, a P/E ratio of 3.67 and a beta of 0.18. Scorpio Tankers Inc. has a fifty-two week low of $50.92 and a fifty-two week high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $267.91 million. During the same quarter in the previous year, the company posted $1.91 EPS. The company’s revenue was down 8.0% compared to the same quarter last year. On average, research analysts anticipate that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.60 annualized dividend and a dividend yield of 3.12%. Scorpio Tankers’s dividend payout ratio (DPR) is 11.47%.

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.