Point72 DIFC Ltd Grows Position in Scorpio Tankers Inc. (NYSE:STNG)

Point72 DIFC Ltd raised its stake in Scorpio Tankers Inc. (NYSE:STNG) by 85.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,870 shares of the shipping company’s stock after buying an additional 3,173 shares during the period. Point72 DIFC Ltd’s holdings in Scorpio Tankers were worth $558,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of STNG. EverSource Wealth Advisors LLC increased its stake in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 291 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Scorpio Tankers by 319.0% in the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after buying an additional 319 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Scorpio Tankers during the 1st quarter worth $58,000. Headlands Technologies LLC boosted its position in shares of Scorpio Tankers by 1,912.2% in the 2nd quarter. Headlands Technologies LLC now owns 986 shares of the shipping company’s stock worth $80,000 after buying an additional 937 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Scorpio Tankers by 7,942.9% in the 2nd quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company’s stock valued at $92,000 after acquiring an additional 1,112 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Trading Down 2.1 %

NYSE STNG opened at $69.49 on Thursday. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 6.45, a PEG ratio of 1.90 and a beta of 0.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67. Scorpio Tankers Inc. has a one year low of $47.88 and a one year high of $84.67. The company’s 50 day moving average price is $71.80 and its 200 day moving average price is $74.57.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.08. The business had revenue of $380.70 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $2.41 EPS. On average, sell-side analysts predict that Scorpio Tankers Inc. will post 12.71 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Thursday, August 15th. Scorpio Tankers’s dividend payout ratio is presently 14.84%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Evercore ISI increased their price target 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. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Stifel Nicolaus upped their price objective on Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Finally, Bank of America reduced their target price on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a 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 company. Based on data from MarketBeat.com, Scorpio Tankers has an average rating of “Moderate Buy” and a consensus target price of $88.80.

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.