Scorpio Tankers Inc. $STNG Stock Holdings Increased by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its stake in Scorpio Tankers Inc. (NYSE:STNG) by 10.4% in the second quarter, Holdings Channel.com reports. The firm owned 52,949 shares of the shipping company’s stock after acquiring an additional 4,969 shares during the quarter. International Assets Investment Management LLC’s holdings in Scorpio Tankers were worth $2,072,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. RFG Advisory LLC purchased a new stake in shares of Scorpio Tankers in the second quarter worth approximately $233,000. CWM LLC lifted its position in shares of Scorpio Tankers by 478.0% in the second quarter. CWM LLC now owns 28,661 shares of the shipping company’s stock worth $1,122,000 after purchasing an additional 23,702 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Scorpio Tankers by 105.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,908 shares of the shipping company’s stock worth $466,000 after purchasing an additional 6,116 shares in the last quarter. Callan Family Office LLC purchased a new stake in shares of Scorpio Tankers in the second quarter worth approximately $259,000. Finally, Kingswood Wealth Advisors LLC purchased a new stake in shares of Scorpio Tankers in the second quarter worth approximately $532,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STNG has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on shares of Scorpio Tankers from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Zacks Research upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a report on Friday, September 12th. B. Riley restated a “buy” rating and issued a $80.00 price objective (up previously from $75.00) on shares of Scorpio Tankers in a report on Thursday. Bank of America increased their price objective on Scorpio Tankers from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Scorpio Tankers presently has a consensus rating of “Buy” and an average price target of $64.40.

Scorpio Tankers Trading Up 3.2%

NYSE:STNG opened at $57.52 on Friday. The stock’s 50 day moving average price is $53.57 and its 200 day moving average price is $45.13. Scorpio Tankers Inc. has a 52 week low of $30.63 and a 52 week high of $67.50. The company has a market capitalization of $2.93 billion, a P/E ratio of 7.84 and a beta of 0.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.83 and a current ratio of 4.95.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.03 by $0.38. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%.The company had revenue of $222.76 million for the quarter, compared to the consensus estimate of $219.26 million. During the same quarter last year, the company posted $3.60 earnings per share. The company’s revenue for the quarter was down 39.5% compared to the same quarter last year. On average, research analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Wednesday, August 13th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 21.80%.

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.