Envestnet Asset Management Inc. Lowers Position in Scorpio Tankers Inc. (NYSE:STNG)

Envestnet Asset Management Inc. trimmed its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 7.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,115 shares of the shipping company’s stock after selling 3,644 shares during the period. Envestnet Asset Management Inc. owned 0.08% of Scorpio Tankers worth $3,586,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Qsemble Capital Management LP bought a new stake in Scorpio Tankers in the 2nd quarter worth approximately $681,000. American Century Companies Inc. raised its stake in Scorpio Tankers by 20.3% during the second quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock valued at $96,391,000 after purchasing an additional 199,858 shares in the last quarter. Headlands Technologies LLC lifted 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 valued at $80,000 after purchasing an additional 937 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Scorpio Tankers by 3.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 16,011 shares of the shipping company’s stock worth $1,302,000 after buying an additional 544 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of Scorpio Tankers by 8.5% in the 2nd quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock worth $162,222,000 after buying an additional 156,414 shares during the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Price Performance

Shares of STNG stock opened at $73.26 on Thursday. The company has a market capitalization of $3.90 billion, a P/E ratio of 6.80, a P/E/G ratio of 1.96 and a beta of 0.16. The company’s 50-day simple moving average is $71.43 and its two-hundred day simple moving average is $74.63. Scorpio Tankers Inc. has a one year low of $47.88 and a one year high of $84.67. 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 (NYSE:STNG) last released its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The company had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. During the same period last year, the business posted $2.41 EPS. Scorpio Tankers’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, equities analysts anticipate that Scorpio Tankers Inc. will post 12.71 EPS for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 14.84%.

Wall Street Analyst Weigh In

Several research firms recently commented on STNG. Stifel Nicolaus lifted their price target on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Evercore ISI lifted their price objective on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Bank of America lowered their target price on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.80.

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.