Cetera Investment Advisers Increases Position in Scorpio Tankers Inc. (NYSE:STNG)

Cetera Investment Advisers raised its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 1.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 29,909 shares of the shipping company’s stock after buying an additional 459 shares during the period. Cetera Investment Advisers’ holdings in Scorpio Tankers were worth $2,431,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in Scorpio Tankers in the 1st quarter valued at about $596,000. BNP Paribas Financial Markets increased its stake in Scorpio Tankers by 37.0% during the 1st quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company’s stock worth $6,356,000 after buying an additional 23,975 shares during the period. Twin Focus Capital Partners LLC purchased a new position in Scorpio Tankers in the 4th quarter valued at approximately $5,115,000. Acadian Asset Management LLC grew its stake in shares of Scorpio Tankers by 101.4% in the first quarter. Acadian Asset Management LLC now owns 19,456 shares of the shipping company’s stock worth $1,391,000 after acquiring an additional 9,798 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Scorpio Tankers during the fourth quarter worth $740,000. 54.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on STNG shares. Evercore ISI boosted their target price on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Bank of America decreased their price target on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Stifel Nicolaus increased 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. Finally, StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.80.

Scorpio Tankers Stock Down 0.1 %

STNG stock opened at $70.89 on Friday. The company’s 50 day moving average is $71.01 and its two-hundred day moving average is $74.63. Scorpio Tankers Inc. has a twelve month low of $52.68 and a twelve 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. The stock has a market cap of $3.87 billion, a P/E ratio of 6.58, a PEG ratio of 1.94 and a beta of 0.15.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, beating 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 net margin of 47.36% and a return on equity of 23.83%. Scorpio Tankers’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.41 earnings per share. Research analysts expect that Scorpio Tankers Inc. will post 12.71 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s dividend payout ratio (DPR) is 14.84%.

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.