MQS Management LLC Takes Position in Scorpio Tankers Inc. (NYSE:STNG)

MQS Management LLC purchased a new stake in Scorpio Tankers Inc. (NYSE:STNG) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,981 shares of the shipping company’s stock, valued at approximately $284,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC bought a new stake in shares of Scorpio Tankers in the 1st quarter valued at approximately $596,000. Acadian Asset Management LLC lifted its position in Scorpio Tankers by 101.4% in the first quarter. Acadian Asset Management LLC now owns 19,456 shares of the shipping company’s stock worth $1,391,000 after buying an additional 9,798 shares during the last quarter. Cetera Investment Advisers bought a new position in Scorpio Tankers during the first quarter valued at $2,107,000. Price T Rowe Associates Inc. MD raised its stake in shares of Scorpio Tankers by 354.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,439 shares of the shipping company’s stock valued at $3,896,000 after acquiring an additional 42,451 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Scorpio Tankers in the 2nd quarter worth about $1,098,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Evercore ISI dropped their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group dropped their price objective on Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating for the company in a report on Thursday. Finally, Bank of America reduced their target price 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $76.40.

Scorpio Tankers Stock Up 1.5 %

Shares of NYSE STNG opened at $54.97 on Friday. Scorpio Tankers Inc. has a 52-week low of $52.68 and a 52-week high of $84.67. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 3.94 and a beta of 0.18. The stock has a 50 day moving average price of $65.72 and a 200 day moving average price of $72.93. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $267.91 million. During the same period in the previous year, the company posted $1.91 earnings per share. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. Sell-side analysts expect that Scorpio Tankers Inc. will post 11.13 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.91%. Scorpio Tankers’s dividend payout ratio is presently 11.47%.

Scorpio Tankers Company 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.