Interval Partners LP Takes Position in Scorpio Tankers Inc. (NYSE:STNG)

Interval Partners LP bought a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,855 shares of the shipping company’s stock, valued at approximately $1,208,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STNG. LSV Asset Management boosted its position in shares of Scorpio Tankers by 118.1% during the 1st quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company’s stock valued at $131,594,000 after acquiring an additional 995,978 shares during the last quarter. Norges Bank bought a new position in shares of Scorpio Tankers during the 4th quarter valued at approximately $34,009,000. Vanguard Group Inc. boosted its position in shares of Scorpio Tankers by 176.6% during the 1st 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. Hartree Partners LP boosted 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 valued at $37,313,000 after acquiring an additional 450,498 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Scorpio Tankers by 1,357.2% during the 2nd quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company’s stock valued at $23,034,000 after acquiring an additional 264,049 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Scorpio Tankers Stock Performance

STNG stock opened at $70.99 on Wednesday. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $71.93 and its two-hundred day simple moving average is $74.61. Scorpio Tankers Inc. has a twelve month low of $47.88 and a twelve month high of $84.67. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 6.59, a PEG ratio of 1.90 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 return on equity of 23.83% and a net margin of 47.36%. The business had revenue of $380.70 million for the quarter, compared to analyst estimates of $368.62 million. During the same quarter last year, the firm posted $2.41 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. Analysts predict that Scorpio Tankers Inc. will post 12.71 earnings per share for the current year.

Scorpio Tankers Announces Dividend

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 $0.40 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. Scorpio Tankers’s payout ratio is 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.