Fifth Third Bancorp Buys 319 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Fifth Third Bancorp lifted its position in Scorpio Tankers Inc. (NYSE:STNG) by 319.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419 shares of the shipping company’s stock after acquiring an additional 319 shares during the quarter. Fifth Third Bancorp’s holdings in Scorpio Tankers were worth $34,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC increased its position in shares of Scorpio Tankers by 8,800.0% during the 1st quarter. Global Retirement Partners LLC now owns 534 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 528 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in Scorpio Tankers during the first quarter worth about $58,000. Blue Trust Inc. raised its position in Scorpio Tankers by 7,942.9% in the second quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company’s stock worth $92,000 after acquiring an additional 1,112 shares during the period. CWM LLC boosted its stake in Scorpio Tankers by 39.4% in the second quarter. CWM LLC now owns 1,791 shares of the shipping company’s stock valued at $146,000 after acquiring an additional 506 shares during the last quarter. Finally, EMC Capital Management bought a new position in shares of Scorpio Tankers during the 1st quarter valued at approximately $194,000. 54.64% of the stock is owned by institutional investors.

Scorpio Tankers Price Performance

STNG stock opened at $71.14 on Tuesday. The firm has a 50 day simple moving average of $76.57 and a two-hundred day simple moving average of $74.35. The stock has a market cap of $3.78 billion, a PE ratio of 6.60, a P/E/G ratio of 1.24 and a beta of 0.17. 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 posted its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.08. The firm had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.41 EPS. On average, analysts predict that Scorpio Tankers Inc. will post 13.08 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 14.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on STNG. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Stifel Nicolaus raised their price objective on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Bank of America decreased their target price on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Evercore ISI raised their price target on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Scorpio Tankers has a consensus rating of “Moderate Buy” and an average target price of $84.17.

Scorpio Tankers Company 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.