Algert Global LLC Boosts Stock Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Algert Global LLC boosted its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 28.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,770 shares of the shipping company’s stock after acquiring an additional 11,920 shares during the period. Algert Global LLC owned 0.10% of Scorpio Tankers worth $4,371,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bluefin Capital Management LLC purchased a new position in Scorpio Tankers during the fourth quarter valued at $1,003,000. Janney Montgomery Scott LLC bought a new position in Scorpio Tankers during the first quarter valued at $596,000. BNP Paribas Financial Markets lifted its position in Scorpio Tankers by 37.0% during the first quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company’s stock valued at $6,356,000 after purchasing an additional 23,975 shares during the last quarter. Twin Focus Capital Partners LLC bought a new position in Scorpio Tankers during the fourth quarter valued at $5,115,000. Finally, Acadian Asset Management LLC lifted its position in Scorpio Tankers by 101.4% during the first quarter. Acadian Asset Management LLC now owns 19,456 shares of the shipping company’s stock valued at $1,391,000 after purchasing an additional 9,798 shares during the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STNG has been the subject of several research reports. Bank of America lowered their price objective on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. 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. Evercore ISI increased their price objective 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 lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus raised their target price on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Scorpio Tankers currently has an average rating of “Moderate Buy” and an average target price of $88.80.

Scorpio Tankers Price Performance

Scorpio Tankers stock opened at $71.30 on Tuesday. The firm has a 50-day moving average price of $71.66 and a 200-day moving average price of $74.63. The firm has a market capitalization of $3.89 billion, a PE ratio of 6.61, a price-to-earnings-growth ratio of 1.94 and a beta of 0.16. 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 Inc. has a 12-month low of $47.88 and a 12-month high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, beating 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 company had revenue of $380.70 million during the quarter, compared to analyst estimates of $368.62 million. During the same quarter last year, the business posted $2.41 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, equities research analysts forecast that Scorpio Tankers Inc. will post 12.71 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.24%. Scorpio Tankers’s payout ratio is 14.84%.

Scorpio Tankers 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.