Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in Scorpio Tankers Inc. (NYSE:STNG) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,619 shares of the shipping company’s stock after selling 431 shares during the period. Federated Hermes Inc. owned about 0.06% of Scorpio Tankers worth $2,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in STNG. Fifth Third Bancorp raised its holdings in Scorpio Tankers by 319.0% in the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 319 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Scorpio Tankers in the 1st quarter valued at approximately $58,000. Headlands Technologies LLC raised its holdings in shares of Scorpio Tankers by 1,912.2% in the 2nd quarter. Headlands Technologies LLC now owns 986 shares of the shipping company’s stock valued at $80,000 after purchasing an additional 937 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Scorpio Tankers by 7,942.9% during the 2nd quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company’s stock worth $92,000 after purchasing an additional 1,112 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Scorpio Tankers by 39.4% during the second quarter. CWM LLC now owns 1,791 shares of the shipping company’s stock worth $146,000 after purchasing an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Bank of America decreased their price target on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Stifel Nicolaus increased their price target on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Jefferies Financial Group reissued a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a report on Tuesday, July 30th. Finally, Evercore ISI upped their target price 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.17.

Scorpio Tankers Stock Performance

Shares of STNG opened at $70.44 on Friday. The company’s 50 day simple moving average is $72.37 and its 200-day simple moving average is $74.46. The firm has a market cap of $3.75 billion, a PE ratio of 6.53, a price-to-earnings-growth ratio of 1.88 and a beta of 0.16. Scorpio Tankers Inc. has a 12-month low of $47.88 and a 12-month high of $84.67. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. 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 firm posted $2.41 EPS. Scorpio Tankers’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, equities analysts predict that Scorpio Tankers Inc. will post 12.71 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.27%. The ex-dividend date was Thursday, August 15th. Scorpio Tankers’s dividend payout ratio is presently 14.84%.

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.