UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes $332,000 Position in Scorpio Tankers Inc. (NYSE:STNG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,650 shares of the shipping company’s stock, valued at approximately $332,000.

Other large investors have also added to or reduced their stakes in the company. LSV Asset Management increased its position in shares of Scorpio Tankers by 8.5% during the second quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock valued at $162,222,000 after buying an additional 156,414 shares during the period. International Assets Investment Management LLC increased its holdings in Scorpio Tankers by 8,249.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock worth $134,057,000 after acquiring an additional 1,857,668 shares during the period. Renaissance Technologies LLC lifted its stake in Scorpio Tankers by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock worth $106,800,000 after purchasing an additional 62,600 shares in the last quarter. American Century Companies Inc. boosted its holdings in Scorpio Tankers by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock valued at $96,391,000 after purchasing an additional 199,858 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Scorpio Tankers by 19.1% during the 2nd quarter. Victory Capital Management Inc. now owns 370,909 shares of the shipping company’s stock valued at $30,151,000 after purchasing an additional 59,361 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Evercore ISI lowered their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group dropped their price target on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Bank of America dropped their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their price target for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Scorpio Tankers presently has an average rating of “Hold” and a consensus price target of $75.40.

Scorpio Tankers Trading Up 0.5 %

Shares of STNG stock opened at $47.49 on Friday. The business has a 50-day moving average of $55.11 and a 200 day moving average of $67.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. Scorpio Tankers Inc. has a 1-year low of $45.94 and a 1-year high of $84.67. The stock has a market capitalization of $2.40 billion, a PE ratio of 3.40 and a beta of 0.13.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data 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. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The firm had revenue of $267.99 million during the quarter, compared to the consensus estimate of $267.91 million. During the same quarter in the previous year, the company posted $1.91 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers’s payout ratio is 11.47%.

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.