Scorpio Tankers Inc. $STNG Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its position in Scorpio Tankers Inc. (NYSE:STNG) by 52.6% in the 2nd quarter, Holdings Channel reports. The fund owned 12,689 shares of the shipping company’s stock after selling 14,073 shares during the period. SG Americas Securities LLC’s holdings in Scorpio Tankers were worth $497,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Pinnacle Holdings LLC acquired a new stake in shares of Scorpio Tankers during the first quarter worth $26,000. Spire Wealth Management lifted its position in Scorpio Tankers by 77.1% during the second quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock worth $30,000 after buying an additional 330 shares during the period. GAMMA Investing LLC lifted its position in Scorpio Tankers by 206.1% during 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 period. PNC Financial Services Group Inc. boosted its stake in Scorpio Tankers by 61.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 924 shares of the shipping company’s stock worth $36,000 after buying an additional 350 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in Scorpio Tankers by 25.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,224 shares of the shipping company’s stock valued at $48,000 after buying an additional 245 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STNG. B. Riley reiterated 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. Jefferies Financial Group reaffirmed a “buy” rating and set a $70.00 price target on shares of Scorpio Tankers in a research report on Thursday, October 30th. Evercore ISI set a $80.00 price target on shares of Scorpio Tankers and gave the company an “outperform” rating in a report on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Scorpio Tankers in a research note on Tuesday. Finally, Bank of America upped their price objective on Scorpio Tankers from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Scorpio Tankers presently has an average rating of “Moderate Buy” and an average target price of $69.00.

Scorpio Tankers Price Performance

Scorpio Tankers stock opened at $57.76 on Thursday. The firm has a fifty day moving average of $59.02 and a 200-day moving average of $50.06. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $65.52. The company has a quick ratio of 4.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $2.95 billion, a P/E ratio of 9.77 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. The company had revenue of $232.92 million for the quarter, compared to analyst estimates of $228.09 million. Scorpio Tankers had a return on equity of 7.42% and a net margin of 32.01%.The firm’s revenue was down 9.9% compared to the same quarter last year. During the same period last year, the company posted $1.75 earnings per share. As a group, analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Increases Dividend

The company also recently disclosed 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. This represents a $1.68 annualized dividend and a yield of 2.9%. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, November 14th. Scorpio Tankers’s dividend payout ratio is 28.43%.

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.