Ceredex Value Advisors LLC Takes Position in Scorpio Tankers Inc. (NYSE:STNG)

by · The Markets Daily

Ceredex Value Advisors LLC acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG – Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 104,900 shares of the shipping company’s stock, valued at approximately $7,479,000.

A number of other institutional investors also recently bought and sold shares of STNG. Measured Wealth Private Client Group LLC increased its holdings in shares of Scorpio Tankers by 4.0% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 12,541 shares of the shipping company’s stock worth $894,000 after buying an additional 484 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Scorpio Tankers by 51.9% during the third quarter. Assenagon Asset Management S.A. now owns 20,518 shares of the shipping company’s stock worth $1,463,000 after acquiring an additional 7,010 shares during the last quarter. International Assets Investment Management LLC raised its position in Scorpio Tankers by 8,249.0% in the third quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock valued at $134,057,000 after purchasing an additional 1,857,668 shares during the period. U S Global Investors Inc. lifted its stake in shares of Scorpio Tankers by 172.6% in the 3rd quarter. U S Global Investors Inc. now owns 4,877 shares of the shipping company’s stock valued at $348,000 after purchasing an additional 3,088 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Scorpio Tankers by 16.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 32,903 shares of the shipping company’s stock worth $2,346,000 after purchasing an additional 4,564 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Price Performance

Scorpio Tankers stock opened at $58.39 on Friday. The company has a quick ratio of 2.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. Scorpio Tankers Inc. has a 52-week low of $52.68 and a 52-week high of $84.67. The firm has a market cap of $2.95 billion, a PE ratio of 4.19 and a beta of 0.18. The company’s 50 day moving average is $68.11 and its two-hundred day moving average is $73.77.

Scorpio Tankers (NYSE:STNG – Get Free Report) last released its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The firm had revenue of $267.99 million during the quarter, compared to analyst estimates of $267.91 million. During the same period last year, the business posted $1.91 earnings per share. Scorpio Tankers’s revenue was down 8.0% compared to the same quarter last year. On average, research analysts expect that Scorpio Tankers Inc. will post 11.13 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.74%. Scorpio Tankers’s payout ratio is 11.47%.

Wall Street Analyst Weigh In

STNG has been the topic of a number of recent analyst reports. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Jefferies Financial Group restated a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a report on Tuesday, October 29th. StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Bank of America decreased their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price objective for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Scorpio Tankers presently has an average rating of “Hold” and an average target price of $78.40.

View Our Latest Stock Analysis on Scorpio Tankers

Scorpio Tankers Company Profile

(Free Report)

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.

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