Ethic Inc. Decreases Position in Scorpio Tankers Inc. $STNG

Ethic Inc. cut its position in Scorpio Tankers Inc. (NYSE:STNG) by 39.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,516 shares of the shipping company’s stock after selling 4,243 shares during the period. Ethic Inc.’s holdings in Scorpio Tankers were worth $263,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Pinnacle Holdings LLC purchased a new position in Scorpio Tankers in the first quarter worth about $26,000. Signaturefd LLC raised its holdings in Scorpio Tankers by 95.6% in the first quarter. Signaturefd LLC now owns 761 shares of the shipping company’s stock worth $29,000 after buying an additional 372 shares during the last quarter. GAMMA Investing LLC raised its holdings in Scorpio Tankers by 206.1% in the second quarter. GAMMA Investing LLC now owns 854 shares of the shipping company’s stock worth $33,000 after buying an additional 575 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Scorpio Tankers by 25.0% during the second quarter. Public Employees Retirement System of Ohio now owns 1,224 shares of the shipping company’s stock valued at $48,000 after purchasing an additional 245 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Scorpio Tankers by 629.8% during the second quarter. Parallel Advisors LLC now owns 1,934 shares of the shipping company’s stock valued at $76,000 after purchasing an additional 1,669 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 research analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Scorpio Tankers from $60.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Jefferies Financial Group reissued a “buy” rating and set a $70.00 price objective on shares of Scorpio Tankers in a report on Thursday. B. Riley reissued a “buy” rating and set a $80.00 price objective (up from $75.00) on shares of Scorpio Tankers in a report on Thursday, October 16th. Evercore ISI boosted their price objective on shares of Scorpio Tankers from $59.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Zacks Research cut shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Scorpio Tankers has an average rating of “Moderate Buy” and an average target price of $67.00.

Scorpio Tankers Stock Down 1.4%

Shares of STNG stock opened at $61.19 on Friday. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $63.05. The stock has a market cap of $3.12 billion, a P/E ratio of 8.34 and a beta of 0.01. The company has a current ratio of 4.95, a quick ratio of 4.83 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $56.14 and a two-hundred day simple moving average of $46.75.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Thursday, October 30th. The shipping company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.10. Scorpio Tankers had a net margin of 39.18% and a return on equity of 8.08%. The business had revenue of $232.92 million during the quarter, compared to analysts’ expectations of $228.09 million. During the same period in the prior year, the company earned $1.75 earnings per share. The firm’s revenue was down 9.9% on a year-over-year basis. On average, research analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be given a $0.42 dividend. The ex-dividend date is Friday, November 14th. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.7%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 21.80%.

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.