Lighthouse Investment Partners LLC Has $248,000 Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Lighthouse Investment Partners LLC trimmed its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 82.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,054 shares of the shipping company’s stock after selling 14,642 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Scorpio Tankers were worth $248,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of 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 purchasing an additional 291 shares during the period. Fifth Third Bancorp lifted its position in Scorpio Tankers by 319.0% during the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after acquiring an additional 319 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Scorpio Tankers during the first quarter valued at about $58,000. Headlands Technologies LLC grew its position in shares of 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 purchasing an additional 937 shares during the last quarter. Finally, Blue Trust Inc. increased 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 purchasing an additional 1,112 shares during the period. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Up 0.8 %

STNG opened at $71.65 on Monday. The company has a market capitalization of $3.81 billion, a P/E ratio of 6.65, a P/E/G ratio of 1.94 and a beta of 0.16. 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’s fifty day moving average price is $71.66 and its two-hundred day moving average price is $74.63. Scorpio Tankers Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $84.67.

Scorpio Tankers (NYSE:STNG) last posted its 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. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The business had revenue of $380.70 million for the quarter, compared to analysts’ expectations of $368.62 million. During the same quarter in the previous year, the firm 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 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were issued a $0.40 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. Scorpio Tankers’s payout ratio is presently 14.84%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on STNG. Stifel Nicolaus raised their target price on Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Evercore ISI boosted their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research 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 research note on Tuesday, July 30th. Bank of America decreased their price target on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.