AlphaMark Advisors LLC Decreases Position in Scorpio Tankers Inc. (NYSE:STNG)

AlphaMark Advisors LLC reduced its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 3.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,263 shares of the shipping company’s stock after selling 164 shares during the period. AlphaMark Advisors LLC’s holdings in Scorpio Tankers were worth $304,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in STNG. Truist Financial Corp raised 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 valued at $889,000 after purchasing an additional 149 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in shares of Scorpio Tankers by 34.2% during the second 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. Quarry LP raised its position in shares of Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after buying an additional 229 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Scorpio Tankers by 970.0% in the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after buying an additional 291 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after acquiring an additional 319 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Trading Up 1.2 %

NYSE STNG opened at $67.02 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. The stock has a market capitalization of $3.56 billion, a P/E ratio of 5.27, a PEG ratio of 1.94 and a beta of 0.15. The firm’s 50-day moving average is $70.38 and its two-hundred day moving average is $74.46. Scorpio Tankers Inc. has a 12 month low of $52.68 and a 12 month high of $84.67.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.08. The business had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The business’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.41 EPS. On average, sell-side analysts anticipate that Scorpio Tankers Inc. will post 12.43 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.39%. Scorpio Tankers’s dividend payout ratio is currently 12.58%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STNG. Bank of America decreased their target price on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Jefferies Financial Group reissued a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Stifel Nicolaus raised their target price on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Finally, StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Scorpio Tankers currently has an average rating of “Moderate Buy” and an average target price of $88.80.

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.