Daiwa Securities Group Inc. Raises Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Daiwa Securities Group Inc. lifted its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 37.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,952 shares of the shipping company’s stock after purchasing an additional 5,941 shares during the period. Daiwa Securities Group Inc.’s holdings in Scorpio Tankers were worth $1,565,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of STNG. Vanguard Group Inc. increased its stake 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 worth $61,574,000 after purchasing an additional 549,395 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Scorpio Tankers by 354.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,439 shares of the shipping company’s stock worth $3,896,000 after purchasing an additional 42,451 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Scorpio Tankers by 17.7% during the 1st quarter. Tidal Investments LLC now owns 33,504 shares of the shipping company’s stock worth $2,397,000 after purchasing an additional 5,038 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of Scorpio Tankers during the 1st quarter worth approximately $2,107,000. Finally, Boston Partners increased its stake in shares of Scorpio Tankers by 112.0% during the 1st quarter. Boston Partners now owns 50,039 shares of the shipping company’s stock worth $3,580,000 after purchasing an additional 26,438 shares in the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on STNG shares. Jefferies Financial Group decreased their target price on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Bank of America decreased their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Finally, Evercore ISI decreased their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Scorpio Tankers currently has an average rating of “Hold” and a consensus target price of $76.40.

Scorpio Tankers Stock Down 1.0 %

Shares of STNG opened at $50.69 on Friday. The firm has a market cap of $2.56 billion, a PE ratio of 3.63 and a beta of 0.18. The company’s fifty day moving average is $62.76 and its two-hundred day moving average is $71.55. Scorpio Tankers Inc. has a fifty-two week low of $50.13 and a fifty-two week high of $84.67. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. The company had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. Scorpio Tankers’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the business earned $1.91 EPS. Analysts forecast that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is 11.47%.

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.