Qsemble Capital Management LP Makes New Investment in Scorpio Tankers Inc. (NYSE:STNG)

Qsemble Capital Management LP acquired a new stake in Scorpio Tankers Inc. (NYSE:STNG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,375 shares of the shipping company’s stock, valued at approximately $681,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its holdings in Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after buying an additional 319 shares during the period. Global Retirement Partners LLC boosted its position in shares of Scorpio Tankers by 8,800.0% in the first quarter. Global Retirement Partners LLC now owns 534 shares of the shipping company’s stock worth $38,000 after acquiring an additional 528 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in Scorpio Tankers in the first quarter valued at approximately $58,000. Headlands Technologies LLC increased its position in Scorpio Tankers by 1,912.2% during the second quarter. Headlands Technologies LLC now owns 986 shares of the shipping company’s stock worth $80,000 after purchasing an additional 937 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Scorpio Tankers by 7,942.9% during the second quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company’s stock worth $92,000 after purchasing an additional 1,112 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Jefferies Financial Group restated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Bank of America reduced their price objective on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Stifel Nicolaus increased their target price on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Evercore ISI raised their price target on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.17.

Scorpio Tankers Price Performance

Shares of NYSE STNG opened at $68.02 on Friday. 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 capitalization of $3.62 billion, a price-to-earnings ratio of 6.31, a PEG ratio of 1.83 and a beta of 0.16. The business has a 50-day moving average of $73.30 and a 200-day moving average of $74.40.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The company had revenue of $380.70 million during the quarter, compared to the consensus estimate of $368.62 million. During the same quarter last year, the company earned $2.41 earnings per share. Scorpio Tankers’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities analysts anticipate that Scorpio Tankers Inc. will post 12.71 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

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

Scorpio Tankers Company 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.