Creative Planning Decreases Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Creative Planning trimmed its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,440 shares of the shipping company’s stock after selling 241 shares during the period. Creative Planning’s holdings in Scorpio Tankers were worth $388,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in 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 last quarter. Fifth Third Bancorp grew 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. Quarry LP grew its position in Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after acquiring an additional 229 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after acquiring an additional 177 shares during the last quarter. Finally, Headlands Technologies LLC grew its position in Scorpio Tankers by 1,912.2% during the 2nd quarter. Headlands Technologies LLC now owns 986 shares of the shipping company’s stock worth $80,000 after acquiring an additional 937 shares during the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Bank of America reduced their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, October 29th. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and cut their price objective for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $78.40.

Scorpio Tankers Trading Down 1.9 %

NYSE STNG opened at $55.42 on Friday. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. Scorpio Tankers Inc. has a twelve month low of $52.68 and a twelve month high of $84.67. The firm has a market capitalization of $2.80 billion, a PE ratio of 3.97 and a beta of 0.18. The stock’s 50 day moving average is $66.99 and its 200 day moving average is $73.39.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.14. The company had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.91 earnings per share. Research analysts forecast that Scorpio Tankers Inc. will post 11.13 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s payout ratio is 11.47%.

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.