Herr Investment Group LLC Lowers Stock Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Herr Investment Group LLC lessened its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 16.3% in the second quarter, Holdings Channel reports. The institutional investor owned 8,744 shares of the shipping company’s stock after selling 1,700 shares during the period. Herr Investment Group LLC’s holdings in Scorpio Tankers were worth $711,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp increased its holdings in shares of Scorpio Tankers by 319.0% during 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 bought a new stake in Scorpio Tankers during the 1st quarter valued at about $58,000. Headlands Technologies LLC raised its holdings in Scorpio Tankers by 1,912.2% in the second quarter. Headlands Technologies LLC now owns 986 shares of the shipping company’s stock worth $80,000 after buying an additional 937 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of 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 buying an additional 1,112 shares in the last quarter. Finally, CWM LLC grew its holdings 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 valued at $146,000 after buying an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Trading Up 1.4 %

Scorpio Tankers stock opened at $70.44 on Friday. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The company has a market cap of $3.75 billion, a P/E ratio of 6.53, a P/E/G ratio of 1.88 and a beta of 0.16. The business has a 50-day simple moving average of $72.37 and a two-hundred day simple moving average of $74.46. Scorpio Tankers Inc. has a 52-week low of $47.88 and a 52-week high of $84.67.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.08. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The business had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $368.62 million. During the same quarter in the prior year, the business posted $2.41 earnings per share. The business’s quarterly revenue was up 15.6% on a year-over-year basis. Analysts predict that Scorpio Tankers Inc. will post 12.71 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s dividend payout ratio is currently 14.84%.

Wall Street Analysts Forecast Growth

STNG has been the subject of a number of recent analyst reports. Bank of America decreased their price objective on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Stifel Nicolaus boosted their price target on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Finally, 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Scorpio Tankers currently has an average 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.