Gordian Capital Singapore Pte Ltd Takes $799,000 Position in Scorpio Tankers Inc. (NYSE:STNG)

Gordian Capital Singapore Pte Ltd bought a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,830 shares of the shipping company’s stock, valued at approximately $799,000.

Several other large investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in shares of Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after acquiring an additional 291 shares during the period. Fifth Third Bancorp raised its holdings in shares of Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 319 shares in the last quarter. Quarry LP raised its holdings in shares of Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 229 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Scorpio Tankers in the 1st quarter valued at about $58,000. Finally, Headlands Technologies LLC raised its holdings in shares of Scorpio Tankers by 1,912.2% during the 2nd quarter. Headlands Technologies LLC now owns 986 shares of the shipping company’s stock valued at $80,000 after buying an additional 937 shares in the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on STNG. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 price target on shares of Scorpio Tankers in a research note on Tuesday, July 30th. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Bank of America reduced their price target 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, Stifel Nicolaus lifted their price target 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Scorpio Tankers presently has a consensus rating of “Moderate Buy” and an average target price of $88.80.

Scorpio Tankers Price Performance

Shares of NYSE STNG opened at $71.27 on Wednesday. The stock has a market cap of $3.79 billion, a P/E ratio of 6.61, a P/E/G ratio of 1.96 and a beta of 0.16. Scorpio Tankers Inc. has a twelve month low of $47.88 and a twelve month high of $84.67. The stock has a 50 day moving average of $71.53 and a two-hundred day moving average of $74.63. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data 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. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The company had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. During the same period last year, the firm posted $2.41 EPS. Scorpio Tankers’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, research analysts forecast that Scorpio Tankers Inc. will post 12.71 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.24%. The ex-dividend date was Thursday, August 15th. Scorpio Tankers’s dividend payout ratio is presently 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.