Scorpio Tankers Inc. (NYSE:STNG) Shares Acquired by De Lisle Partners LLP

De Lisle Partners LLP lifted its stake in Scorpio Tankers Inc. (NYSE:STNG) by 32.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 20,258 shares of the shipping company’s stock after purchasing an additional 5,000 shares during the quarter. De Lisle Partners LLP’s holdings in Scorpio Tankers were worth $1,444,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in STNG. EverSource Wealth Advisors LLC boosted its holdings in Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 291 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Scorpio Tankers during the third quarter worth about $28,000. Fifth Third Bancorp boosted its stake in shares of Scorpio Tankers by 319.0% in the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 319 shares during the period. Quarry LP increased its stake in Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after buying an additional 229 shares during the period. Finally, 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 buying an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Trading Down 1.0 %

NYSE STNG opened at $50.70 on Thursday. The firm’s fifty day moving average price is $62.76 and its 200 day moving average price is $71.55. Scorpio Tankers Inc. has a 12 month low of $50.13 and a 12 month high of $84.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 3.63 and a beta of 0.18.

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

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is currently 11.47%.

Analyst Upgrades and Downgrades

STNG has been the subject of several research reports. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price target for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Evercore ISI reduced their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group cut their target price on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Finally, Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently 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.