18,784 Shares in Scorpio Tankers Inc. (NYSE:STNG) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in Scorpio Tankers Inc. (NYSE:STNG) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 18,784 shares of the shipping company’s stock, valued at approximately $1,339,000.

A number of other large investors also recently made changes to their positions in STNG. EverSource Wealth Advisors LLC grew its position in shares of Scorpio Tankers by 970.0% in the second 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 during the period. Harbor Capital Advisors Inc. acquired a new stake in Scorpio Tankers in the 3rd quarter worth about $28,000. Fifth Third Bancorp grew its holdings in Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after buying an additional 319 shares during the period. Quarry LP increased its stake in shares of Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 229 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its holdings in shares of Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after acquiring an additional 177 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STNG. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Evercore ISI dropped their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their price target for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group cut their price objective on Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $76.40.

Scorpio Tankers Stock Down 1.1 %

Shares of Scorpio Tankers stock opened at $51.21 on Wednesday. Scorpio Tankers Inc. has a twelve month low of $50.92 and a twelve month high of $84.67. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 3.67 and a beta of 0.18. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average price of $63.50 and a 200 day moving average price of $71.88.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.14. The company had revenue of $267.99 million during the quarter, compared to the consensus estimate of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.91 earnings per share. Equities research analysts forecast that Scorpio Tankers Inc. will post 11.04 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.12%. Scorpio Tankers’s dividend payout ratio is currently 11.47%.

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.