Navellier & Associates Inc. Has $747,000 Stock Position in Scorpio Tankers Inc. (NYSE:STNG)

Navellier & Associates Inc. lifted its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 5.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 10,474 shares of the shipping company’s stock after acquiring an additional 508 shares during the period. Navellier & Associates Inc.’s holdings in Scorpio Tankers were worth $747,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of STNG. Truist Financial Corp boosted its stake in Scorpio Tankers by 1.4% in the 2nd quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock worth $889,000 after purchasing an additional 149 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after purchasing an additional 177 shares during the last quarter. Quarry LP boosted its holdings in Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 229 shares during the period. Segall Bryant & Hamill LLC raised its holdings in Scorpio Tankers by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock valued at $863,000 after acquiring an additional 252 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after buying an additional 291 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Stock Down 3.2 %

STNG stock opened at $52.91 on Friday. The firm has a market cap of $2.67 billion, a PE ratio of 3.79 and a beta of 0.18. The business has a 50 day moving average of $64.44 and a 200 day moving average of $72.35. Scorpio Tankers Inc. has a twelve month low of $52.07 and a twelve month high of $84.67. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The business had revenue of $267.99 million during the quarter, compared to analysts’ expectations of $267.91 million. During the same period in the prior year, the company earned $1.91 earnings per share. The firm’s revenue was down 8.0% on a year-over-year basis. On average, research analysts forecast that Scorpio Tankers Inc. will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.02%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is presently 11.47%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Evercore ISI cut their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Jefferies Financial Group reduced their target price on Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their price target for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Finally, Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.40.

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.