Scorpio Tankers Inc. (NYSE:STNG) Shares Acquired by Creative Planning

Creative Planning increased its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 97.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,681 shares of the shipping company’s stock after acquiring an additional 2,803 shares during the quarter. Creative Planning’s holdings in Scorpio Tankers were worth $462,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of STNG. EverSource Wealth Advisors LLC increased its holdings in Scorpio Tankers by 970.0% in the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after buying an additional 291 shares during the last quarter. Fifth Third Bancorp increased 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 buying an additional 319 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Scorpio Tankers in the first quarter valued at about $58,000. Headlands Technologies LLC increased 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 valued at $80,000 after buying an additional 937 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings 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 valued at $92,000 after buying an additional 1,112 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

NYSE STNG opened at $66.70 on Wednesday. Scorpio Tankers Inc. has a fifty-two week low of $52.68 and a fifty-two week high of $84.67. The stock’s 50-day moving average is $70.97 and its two-hundred day moving average is $74.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. The firm has a market cap of $3.55 billion, a P/E ratio of 5.24, a price-to-earnings-growth ratio of 1.94 and a beta of 0.15.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $368.62 million. During the same period in the previous year, the company posted $2.41 earnings per share. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, analysts anticipate that Scorpio Tankers Inc. will post 12.71 earnings per share for the current fiscal 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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s payout ratio is 12.58%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday, July 30th. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Stifel Nicolaus upped their target price on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Bank of America cut their target price on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Finally, Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and an average target price of $88.80.

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.