5,400 Shares in Scorpio Tankers Inc. (NYSE:STNG) Acquired by Savant Capital LLC

Savant Capital LLC purchased a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,400 shares of the shipping company’s stock, valued at approximately $439,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. LSV Asset Management grew its position in shares of Scorpio Tankers by 118.1% in the first quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company’s stock valued at $131,594,000 after purchasing an additional 995,978 shares during the period. Vanguard Group Inc. lifted its holdings in Scorpio Tankers by 176.6% in the first quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock valued at $61,574,000 after acquiring an additional 549,395 shares during the last quarter. Norges Bank purchased a new position in Scorpio Tankers in the fourth quarter worth approximately $34,009,000. Hartree Partners LP increased its position in shares of Scorpio Tankers by 634.5% during the 1st quarter. Hartree Partners LP now owns 521,498 shares of the shipping company’s stock worth $37,313,000 after purchasing an additional 450,498 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Scorpio Tankers by 19.1% in the second quarter. Victory Capital Management Inc. now owns 370,909 shares of the shipping company’s stock valued at $30,151,000 after buying an additional 59,361 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STNG has been the subject of a number of recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Tuesday, July 30th. StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Evercore ISI upped their price target on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Bank of America lowered their price target on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Finally, Stifel Nicolaus boosted their price objective on Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Scorpio Tankers presently has an average rating of “Moderate Buy” and an average price target of $84.17.

Scorpio Tankers Price Performance

Shares of NYSE STNG opened at $68.02 on Friday. The stock’s 50-day moving average is $73.30 and its two-hundred day moving average is $74.40. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. Scorpio Tankers Inc. has a 1-year low of $47.88 and a 1-year high of $84.67. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 6.31, a price-to-earnings-growth ratio of 1.83 and a beta of 0.16.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The firm had revenue of $380.70 million for the quarter, compared to analyst estimates of $368.62 million. During the same period in the prior year, the firm earned $2.41 earnings per share. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. Analysts forecast that Scorpio Tankers Inc. will post 12.71 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.35%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 14.84%.

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.