Valeo Financial Advisors LLC Makes New $316,000 Investment in Scorpio Tankers Inc. (NYSE:STNG)

Valeo Financial Advisors LLC bought a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,434 shares of the shipping company’s stock, valued at approximately $316,000.

A number of other hedge funds have also recently modified their holdings of STNG. LSV Asset Management boosted its holdings in Scorpio Tankers by 118.1% during the 1st quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company’s stock valued at $131,594,000 after acquiring an additional 995,978 shares during the period. Vanguard Group Inc. increased its stake in Scorpio Tankers by 176.6% in the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after buying an additional 549,395 shares during the period. Hartree Partners LP lifted its holdings in Scorpio Tankers by 634.5% during the 1st quarter. Hartree Partners LP now owns 521,498 shares of the shipping company’s stock valued at $37,313,000 after buying an additional 450,498 shares in the last quarter. Acadian Asset Management LLC boosted its position in Scorpio Tankers by 1,357.2% in the 2nd quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company’s stock valued at $23,034,000 after buying an additional 264,049 shares during the period. Finally, American Century Companies Inc. grew its stake in Scorpio Tankers by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after acquiring an additional 199,858 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on STNG. Evercore ISI lifted their price target on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Bank of America decreased their price objective on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday, July 30th. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, 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 note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.80.

Scorpio Tankers Stock Down 1.9 %

NYSE:STNG opened at $69.54 on Tuesday. The company’s 50-day simple moving average is $71.01 and its 200-day simple moving average is $74.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67. Scorpio Tankers Inc. has a fifty-two week low of $52.68 and a fifty-two week high of $84.67. The stock has a market capitalization of $3.70 billion, a P/E ratio of 5.47, a P/E/G ratio of 1.94 and a beta of 0.15.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results 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. The business had revenue of $380.70 million for the quarter, compared to analyst estimates of $368.62 million. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.41 earnings per share. On average, equities analysts anticipate that Scorpio Tankers Inc. will post 12.71 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.30%. Scorpio Tankers’s payout ratio is 12.58%.

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.