Sei Investments Co. Purchases 38,216 Shares of Scorpio Tankers Inc. $STNG

Sei Investments Co. grew its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 47.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,751 shares of the shipping company’s stock after purchasing an additional 38,216 shares during the quarter. Sei Investments Co. owned approximately 0.24% of Scorpio Tankers worth $8,865,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Scorpio Tankers by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock worth $996,000 after purchasing an additional 1,144 shares during the period. Intech Investment Management LLC lifted its stake in shares of Scorpio Tankers by 9.4% in the first quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock worth $1,221,000 after acquiring an additional 2,802 shares during the period. Legal & General Group Plc lifted its stake in shares of Scorpio Tankers by 11.2% in the second quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company’s stock worth $391,000 after acquiring an additional 1,005 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Scorpio Tankers by 593.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company’s stock valued at $110,000 after acquiring an additional 2,402 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Scorpio Tankers by 3.1% during the 2nd quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company’s stock valued at $5,932,000 after purchasing an additional 4,618 shares during the period. 54.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STNG. Jefferies Financial Group began coverage on shares of Scorpio Tankers in a research note on Friday, April 24th. They issued a “buy” rating and a $90.00 price objective on the stock. Wall Street Zen downgraded Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 14th. Zacks Research lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Bank of America downgraded Scorpio Tankers from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $100.00 to $78.00 in a research note on Tuesday, June 30th. Finally, BTIG Research upped their target price on Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $88.14.

Key Headlines Impacting Scorpio Tankers

Here are the key news stories impacting Scorpio Tankers this week:

• Positive Sentiment: Adjusted earnings and revenue topped expectations. Q2 adjusted diluted EPS was $4.68, above the $4.51 consensus estimate, while revenue reached $408.7 million versus expectations of $398.3 million. Adjusted net income rose to $243.7 million from $67.8 million a year earlier. Scorpio Tankers Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Operating performance improved sharply. Average daily time-charter-equivalent revenue more than doubled to $52,661 from $25,569, lifting adjusted EBITDA to $300.5 million from $144.5 million. Management attributed the stronger market to longer voyages and trade disruptions related to the Middle East conflict. Scorpio Tankers Q2 Results and Dividend
• Positive Sentiment: Liquidity and capital returns remain attractive. Scorpio Tankers reported approximately $2.0 billion in unrestricted cash, reduced gross debt through vessel sales and repayments, repurchased shares, and declared a $0.45 quarterly dividend payable August 31 to shareholders of record August 17.
• Positive Sentiment: Forward revenue visibility is improving. The company secured three-year time charters for three MR tankers at $23,900-$25,000 per day and continues investing in scrubber-fitted LR2, MR and VLCC newbuildings.
• Neutral Sentiment: Reported net income was boosted by nonrecurring items. Q2 net income of $387.5 million included a $154.1 million vessel-sale gain and a $13.8 million fair-value gain, making adjusted results more relevant for assessing recurring profitability.
• Negative Sentiment: Market and dilution risks remain. Spot rates declined from record highs late in the quarter, while the $605 million convertible-note issuance may dilute shareholders if converted. Higher general and administrative and vessel operating costs also offset part of the benefit from stronger freight rates.

Scorpio Tankers Trading Up 2.8%

NYSE:STNG opened at $77.63 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 13.98 and a quick ratio of 13.87. Scorpio Tankers Inc. has a one year low of $43.78 and a one year high of $87.39. The company has a market cap of $3.91 billion, a PE ratio of 4.85 and a beta of -0.24. The firm has a 50-day moving average of $76.89 and a 200-day moving average of $74.04.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, July 30th. The shipping company reported $4.68 earnings per share for the quarter, beating the consensus estimate of $4.56 by $0.12. Scorpio Tankers had a return on equity of 16.95% and a net margin of 67.16%.The business had revenue of $408.73 million for the quarter, compared to analysts’ expectations of $398.25 million. During the same period last year, the business earned $1.41 EPS. The business’s revenue was up 77.5% on a year-over-year basis. As a group, equities research analysts expect that Scorpio Tankers Inc. will post 11.18 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, August 17th. Scorpio Tankers’s payout ratio is presently 17.70%.

About Scorpio Tankers

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.