Scorpio Tankers Inc. $STNG Holdings Boosted by Creative Planning

Creative Planning raised its stake in Scorpio Tankers Inc. (NYSE:STNG) by 331.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,555 shares of the shipping company’s stock after acquiring an additional 29,615 shares during the period. Creative Planning owned 0.08% of Scorpio Tankers worth $1,509,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Holdings LLC acquired a new position in shares of Scorpio Tankers during the first quarter valued at $26,000. Spire Wealth Management lifted its position in Scorpio Tankers by 77.1% in the 2nd quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 330 shares during the last quarter. GAMMA Investing LLC boosted its stake in Scorpio Tankers by 206.1% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the shipping company’s stock valued at $33,000 after purchasing an additional 575 shares during the period. PNC Financial Services Group Inc. grew its position in Scorpio Tankers by 61.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 924 shares of the shipping company’s stock worth $36,000 after purchasing an additional 350 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in Scorpio Tankers by 25.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,224 shares of the shipping company’s stock worth $48,000 after purchasing an additional 245 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on STNG shares. Jefferies Financial Group reiterated a “buy” rating and set a $70.00 price objective on shares of Scorpio Tankers in a research report on Thursday, October 30th. Zacks Research lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. B. Riley reissued a “buy” rating and set a $80.00 price target (up from $75.00) on shares of Scorpio Tankers in a report on Thursday, October 16th. Bank of America lifted their price objective on shares of Scorpio Tankers from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Finally, Evercore ISI set a $80.00 price objective on shares of Scorpio Tankers and gave the company an “outperform” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Scorpio Tankers Stock Performance

STNG opened at $57.76 on Friday. The firm has a market cap of $2.95 billion, a PE ratio of 9.77 and a beta of -0.07. The company has a quick ratio of 4.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $58.98 and a 200-day simple moving average of $50.11. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $65.52.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Thursday, October 30th. The shipping company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.10. Scorpio Tankers had a return on equity of 7.42% and a net margin of 32.01%.The company had revenue of $232.92 million for the quarter, compared to analyst estimates of $228.09 million. During the same period in the previous year, the firm earned $1.75 earnings per share. Scorpio Tankers’s revenue for the quarter was down 9.9% compared to the same quarter last year. As a group, equities analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.42 per share. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. Scorpio Tankers’s payout ratio is currently 28.43%.

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.