Scorpio Tankers Inc. $STNG Shares Acquired by Allworth Financial LP

Allworth Financial LP grew its position in Scorpio Tankers Inc. (NYSE:STNG) by 1,954.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,870 shares of the shipping company’s stock after acquiring an additional 10,341 shares during the period. Allworth Financial LP’s holdings in Scorpio Tankers were worth $425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pinnacle Holdings LLC acquired a new position in Scorpio Tankers during the first quarter worth approximately $26,000. Signaturefd LLC increased its holdings in shares of Scorpio Tankers by 95.6% during the 1st quarter. Signaturefd LLC now owns 761 shares of the shipping company’s stock worth $29,000 after acquiring an additional 372 shares during the last quarter. Spire Wealth Management raised its stake in Scorpio Tankers by 77.1% in the 2nd quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 330 shares during the period. GAMMA Investing LLC lifted its holdings in Scorpio Tankers by 206.1% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the shipping company’s stock valued at $33,000 after purchasing an additional 575 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in 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 worth $48,000 after purchasing an additional 245 shares during the period. 54.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on STNG. B. Riley restated a “buy” rating and set a $80.00 target price (up previously from $75.00) on shares of Scorpio Tankers in a research note on Thursday, October 16th. Zacks Research downgraded Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Evercore ISI set a $80.00 price target on Scorpio Tankers and gave the stock an “outperform” rating in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Scorpio Tankers in a research note on Thursday. Finally, Bank of America lifted their target price on Scorpio Tankers from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.00.

Scorpio Tankers Stock Up 0.1%

Shares of STNG stock opened at $61.81 on Monday. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $65.52. The stock’s 50-day simple moving average is $58.78 and its 200-day simple moving average is $48.98. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.75 and a current ratio of 4.81. The firm has a market capitalization of $3.15 billion, a PE ratio of 10.46 and a beta of -0.07.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Thursday, October 30th. The shipping company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.39 by $0.10. Scorpio Tankers had a net margin of 32.01% and a return on equity of 7.42%. The business had revenue of $232.92 million for the quarter, compared to the consensus estimate of $228.09 million. During the same period in the prior year, the firm earned $1.75 EPS. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. Equities analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.7%. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.40. Scorpio Tankers’s dividend payout ratio is 28.43%.

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.