Intech Investment Management LLC Takes $1.34 Million Position in Scorpio Tankers Inc. (NYSE:STNG)

Intech Investment Management LLC purchased a new position in Scorpio Tankers Inc. (NYSE:STNG) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 18,784 shares of the shipping company’s stock, valued at approximately $1,339,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STNG. Advisors Asset Management Inc. boosted its stake in Scorpio Tankers by 212.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,023 shares of the shipping company’s stock valued at $144,000 after acquiring an additional 1,375 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Scorpio Tankers by 2.1% during the third quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock worth $863,000 after purchasing an additional 252 shares during the last quarter. Chesapeake Capital Corp IL grew its stake in Scorpio Tankers by 6.4% in the third quarter. Chesapeake Capital Corp IL now owns 5,841 shares of the shipping company’s stock worth $419,000 after purchasing an additional 349 shares in the last quarter. AM Squared Ltd bought a new stake in Scorpio Tankers in the third quarter valued at about $64,000. Finally, MQS Management LLC acquired a new stake in Scorpio Tankers during the third quarter valued at approximately $284,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 1.1 %

Scorpio Tankers stock opened at $51.21 on Wednesday. Scorpio Tankers Inc. has a 52 week low of $50.92 and a 52 week high of $84.67. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 3.67 and a beta of 0.18. The company’s 50-day moving average price is $63.50 and its two-hundred day moving average price is $71.88. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. The business had revenue of $267.99 million for 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 quarter last year, the business earned $1.91 earnings per share. On average, analysts expect that Scorpio Tankers Inc. will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s payout ratio is 11.47%.

Analyst Ratings Changes

STNG has been the subject of several research reports. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Bank of America lowered their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and cut their price objective for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group dropped their price target 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Scorpio Tankers presently has a consensus 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.