Epoch Investment Partners Inc. Cuts Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Epoch Investment Partners Inc. reduced its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 31.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,985 shares of the shipping company’s stock after selling 5,000 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Scorpio Tankers were worth $893,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of STNG. LSV Asset Management boosted its position in Scorpio Tankers by 8.5% during the second quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock worth $162,222,000 after purchasing an additional 156,414 shares in the last quarter. Renaissance Technologies LLC grew its stake in Scorpio Tankers by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock valued at $106,800,000 after acquiring an additional 62,600 shares during the period. American Century Companies Inc. increased its holdings in Scorpio Tankers by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after acquiring an additional 199,858 shares in the last quarter. Vanguard Group Inc. raised its position in Scorpio Tankers by 176.6% during the first quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after acquiring an additional 549,395 shares during the period. Finally, Norges Bank acquired a new position in Scorpio Tankers during the fourth quarter worth $34,009,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on STNG. Jefferies Financial Group reissued a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Bank of America lowered their price target 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 price objective on Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Evercore ISI increased their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.80.

Scorpio Tankers Trading Up 2.1 %

Shares of STNG stock opened at $69.72 on Tuesday. Scorpio Tankers Inc. has a twelve month low of $47.88 and a twelve month high of $84.67. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 1.88 and a beta of 0.16. The company’s 50-day moving average price is $72.06 and its 200-day moving average price is $74.59. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29.

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

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.60 annualized dividend and a yield of 2.29%. Scorpio Tankers’s dividend payout ratio (DPR) is 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.