Public Employees Retirement System of Ohio Has $48,000 Stake in Scorpio Tankers Inc. $STNG

Public Employees Retirement System of Ohio boosted its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 25.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,224 shares of the shipping company’s stock after purchasing an additional 245 shares during the period. Public Employees Retirement System of Ohio’s holdings in Scorpio Tankers were worth $48,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bfsg LLC increased its holdings in Scorpio Tankers by 116.6% during the 2nd quarter. Bfsg LLC now owns 2,164 shares of the shipping company’s stock valued at $85,000 after purchasing an additional 1,165 shares in the last quarter. GAMMA Investing LLC boosted its position in Scorpio Tankers by 206.1% in the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the shipping company’s stock valued at $33,000 after buying an additional 575 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Scorpio Tankers by 598.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 357,120 shares of the shipping company’s stock valued at $13,974,000 after buying an additional 305,978 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Scorpio Tankers in the 2nd quarter valued at $920,000. Finally, Pallas Capital Advisors LLC bought a new position in Scorpio Tankers in the 2nd quarter valued at $384,000. 54.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on STNG shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Saturday, September 27th. Jefferies Financial Group raised their price target on Scorpio Tankers from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Bank of America raised their price target on Scorpio Tankers from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Finally, Zacks Research upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 12th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Scorpio Tankers has a consensus rating of “Buy” and a consensus target price of $60.50.

Scorpio Tankers Price Performance

NYSE:STNG opened at $54.39 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.83 and a current ratio of 4.95. The stock’s 50-day simple moving average is $52.29 and its 200 day simple moving average is $44.22. The company has a market cap of $2.78 billion, a P/E ratio of 7.41 and a beta of 0.01. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $72.92.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.38. The firm had revenue of $222.76 million for the quarter, compared to the consensus estimate of $219.26 million. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%.The business’s revenue was down 39.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.60 earnings per share. As a group, sell-side analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, August 13th. Scorpio Tankers’s payout ratio is 21.80%.

About Scorpio Tankers

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.