Massachusetts Financial Services Co. MA Boosts Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,936 shares of the shipping company’s stock after acquiring an additional 2,467 shares during the period. Massachusetts Financial Services Co. MA owned 0.07% of Scorpio Tankers worth $2,562,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Truist Financial Corp lifted its position in Scorpio Tankers by 1.4% during the 2nd quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock valued at $889,000 after acquiring an additional 149 shares during the period. Newbridge Financial Services Group Inc. lifted its position 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 valued at $57,000 after acquiring an additional 177 shares during the period. Quarry LP lifted its position in Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 229 shares during the period. Segall Bryant & Hamill LLC lifted its position in Scorpio Tankers by 2.1% during 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 during the period. Finally, EverSource Wealth Advisors LLC lifted its position 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. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $51.21 on Wednesday. The company has a 50 day moving average price of $63.50 and a 200-day moving average price of $71.88. Scorpio Tankers Inc. has a 52 week low of $50.92 and a 52 week high of $84.67. The firm has a market capitalization of $2.59 billion, a PE ratio of 3.67 and a beta of 0.18. 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 quarterly 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 firm had revenue of $267.99 million during the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.91 earnings per share. As a group, equities research analysts expect that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 3.12%. Scorpio Tankers’s dividend payout ratio (DPR) is 11.47%.

Analyst Upgrades and Downgrades

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

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.