Fiera Capital Corp Raises Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Fiera Capital Corp lifted its stake in Scorpio Tankers Inc. (NYSE:STNG) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 351,456 shares of the shipping company’s stock after purchasing an additional 5,531 shares during the quarter. Fiera Capital Corp’s holdings in Scorpio Tankers were worth $25,059,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of STNG. EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 291 shares during the last quarter. 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 position in 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 buying an additional 319 shares during the last quarter. Quarry LP increased its holdings in Scorpio Tankers by 52.8% in 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 stake 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. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Stock Down 1.4 %

Scorpio Tankers stock opened at $54.67 on Friday. Scorpio Tankers Inc. has a 12 month low of $52.68 and a 12 month high of $84.67. The stock has a market capitalization of $2.76 billion, a PE ratio of 3.92 and a beta of 0.18. 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 business has a 50 day simple moving average of $66.65 and a 200-day simple moving average of $73.28.

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

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 2.93%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 11.47%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Evercore ISI cut their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their price objective for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Tuesday, October 29th. Finally, Bank of America dropped their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $78.40.

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.