Scorpio Tankers Inc. (NYSE:STNG) Holdings Boosted by Tidal Investments LLC

Tidal Investments LLC lifted its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 54.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 54,816 shares of the shipping company’s stock after acquiring an additional 19,298 shares during the period. Tidal Investments LLC’s holdings in Scorpio Tankers were worth $3,908,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Mountaineer Partners Management LLC increased its holdings in Scorpio Tankers by 6,926.8% in the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after buying an additional 8,252,691 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Scorpio Tankers in the third quarter valued at $8,459,000. Versor Investments LP increased its position in Scorpio Tankers by 359.0% during the 3rd quarter. Versor Investments LP now owns 16,803 shares of the shipping company’s stock worth $1,198,000 after purchasing an additional 13,142 shares in the last quarter. Independent Advisor Alliance acquired a new position in shares of Scorpio Tankers during the third quarter valued at about $2,221,000. Finally, Assenagon Asset Management S.A. purchased a new position in Scorpio Tankers in the 2nd quarter valued at approximately $1,098,000. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

NYSE STNG opened at $48.31 on Friday. Scorpio Tankers Inc. has a 1-year low of $46.66 and a 1-year high of $84.67. The stock has a 50-day moving average of $57.53 and a two-hundred day moving average of $68.89. The company has a market cap of $2.44 billion, a P/E ratio of 3.46 and a beta of 0.13. 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 issued its earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, topping 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 the consensus estimate of $267.91 million. During the same quarter in the previous year, the firm posted $1.91 earnings per share. The company’s revenue was down 8.0% compared to the same quarter last year. As a group, analysts anticipate that Scorpio Tankers Inc. will post 11.04 EPS for the current year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.31%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is 11.47%.

Wall Street Analysts Forecast Growth

STNG has been the topic of several research reports. Bank of America cut their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Jefferies Financial Group dropped their price target on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their target price for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Finally, Evercore ISI cut their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Scorpio Tankers currently has a consensus rating of “Hold” and an average target price of $75.40.

Scorpio Tankers 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.