Envestnet Asset Management Inc. Lowers Stake in Scorpio Tankers Inc. (NYSE:STNG)

Envestnet Asset Management Inc. lowered its stake in shares of Scorpio Tankers Inc. (NYSE:STNGGet Rating) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,291 shares of the shipping company’s stock after selling 556 shares during the quarter. Envestnet Asset Management Inc. owned 0.05% of Scorpio Tankers worth $1,080,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in STNG. Nisa Investment Advisors LLC purchased a new stake in shares of Scorpio Tankers during the 2nd quarter valued at $28,000. US Bancorp DE raised its position in Scorpio Tankers by 38.7% in the 2nd quarter. US Bancorp DE now owns 1,082 shares of the shipping company’s stock worth $37,000 after purchasing an additional 302 shares during the period. Ellevest Inc. raised its position in Scorpio Tankers by 108.6% in the 2nd quarter. Ellevest Inc. now owns 1,882 shares of the shipping company’s stock worth $65,000 after purchasing an additional 980 shares during the period. Amalgamated Bank purchased a new position in Scorpio Tankers in the 1st quarter worth $126,000. Finally, Bailard Inc. purchased a new position in Scorpio Tankers in the 2nd quarter worth $204,000. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Scorpio Tankers Trading Down 2.1 %

Shares of STNG opened at $50.80 on Thursday. The firm’s 50-day moving average price is $46.48 and its 200-day moving average price is $40.01. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.11 and a beta of 0.50. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.44. Scorpio Tankers Inc. has a 1-year low of $11.02 and a 1-year high of $54.24.

Scorpio Tankers (NYSE:STNGGet Rating) last announced its earnings results on Tuesday, November 1st. The shipping company reported $4.29 earnings per share for the quarter, beating analysts’ consensus estimates of $3.81 by $0.48. The firm had revenue of $456.28 million for the quarter, compared to analyst estimates of $417.90 million. Scorpio Tankers had a net margin of 26.86% and a return on equity of 21.04%. Sell-side analysts anticipate that Scorpio Tankers Inc. will post 11.1 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, November 16th. Scorpio Tankers’s payout ratio is currently 7.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Scorpio Tankers from $47.00 to $52.00 in a research report on Wednesday, November 2nd. Jefferies Financial Group lifted their target price on shares of Scorpio Tankers from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 1st. StockNews.com raised shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a report on Tuesday, October 18th. BTIG Research raised their price target on shares of Scorpio Tankers from $50.00 to $60.00 in a report on Tuesday, November 1st. Finally, Stifel Nicolaus raised their price target on shares of Scorpio Tankers from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, October 14th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.71.

Scorpio Tankers Company Profile

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Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 18, 2022, the company's fleet consisted of 124 owned, finance leased, or bareboat chartered-in tankers, including 42 LR2, 6 LR1, 62 MR, and 14 Handymax with a weighted average age of approximately 6.2 years.

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Institutional Ownership by Quarter for Scorpio Tankers (NYSE:STNG)

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