UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases New Holdings in Scorpio Tankers Inc. (NYSE:STNG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,650 shares of the shipping company’s stock, valued at approximately $332,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of STNG. Independent Advisor Alliance purchased a new stake in shares of Scorpio Tankers in the 3rd quarter worth approximately $2,221,000. Versor Investments LP boosted its holdings in Scorpio Tankers by 359.0% in the third quarter. Versor Investments LP now owns 16,803 shares of the shipping company’s stock worth $1,198,000 after acquiring an additional 13,142 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Scorpio Tankers by 222.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 28,339 shares of the shipping company’s stock worth $2,304,000 after acquiring an additional 19,562 shares in the last quarter. First Eagle Investment Management LLC purchased a new stake in shares of Scorpio Tankers in the second quarter worth $4,550,000. Finally, Interval Partners LP bought a new position in shares of Scorpio Tankers during the second quarter valued at $1,208,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Trading Up 0.5 %

NYSE:STNG opened at $47.49 on Friday. The company has a market cap of $2.40 billion, a PE ratio of 3.40 and a beta of 0.13. 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 50 day simple moving average of $55.11 and a two-hundred day simple moving average of $67.72. Scorpio Tankers Inc. has a 12 month low of $45.94 and a 12 month high of $84.67.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. The company had revenue of $267.99 million during the quarter, compared to analysts’ expectations of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. Scorpio Tankers’s revenue for the quarter 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. Research analysts forecast that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were given a $0.40 dividend. The ex-dividend date was Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 3.37%. Scorpio Tankers’s payout ratio is presently 11.47%.

Analysts Set New Price Targets

STNG has been the topic of a number of analyst reports. Bank of America dropped their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their target price for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group reduced their price target on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Finally, Evercore ISI reduced their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $75.40.

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.