Foster & Motley Inc. Buys 3,784 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Foster & Motley Inc. boosted its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 71.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,078 shares of the shipping company’s stock after acquiring an additional 3,784 shares during the period. Foster & Motley Inc.’s holdings in Scorpio Tankers were worth $647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. LSV Asset Management boosted its holdings in shares of Scorpio Tankers by 8.5% in the 2nd quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock worth $162,222,000 after purchasing an additional 156,414 shares in the last quarter. International Assets Investment Management LLC increased its position in Scorpio Tankers by 8,249.0% during the 3rd 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. Renaissance Technologies LLC raised its stake in Scorpio Tankers by 5.0% in the second quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock worth $106,800,000 after buying an additional 62,600 shares in the last quarter. American Century Companies Inc. raised its position in shares of Scorpio Tankers by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after acquiring an additional 199,858 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Scorpio Tankers by 176.6% in the first quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after purchasing an additional 549,395 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 1.9 %

Shares of NYSE:STNG opened at $55.42 on Friday. Scorpio Tankers Inc. has a 12 month low of $52.68 and a 12 month high of $84.67. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $66.99 and a 200 day moving average price of $73.39. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 3.97 and a beta of 0.18.

Scorpio Tankers (NYSE:STNG) last announced its earnings results 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. 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 business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.91 earnings per share. As a group, equities research analysts predict that Scorpio Tankers Inc. will post 11.13 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.60 annualized dividend and a dividend yield of 2.89%. Scorpio Tankers’s dividend payout ratio (DPR) is 11.47%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on STNG shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of Scorpio Tankers in a research report on Tuesday, October 29th. Evercore ISI dropped their price target 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. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their target price for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Finally, Bank of America cut their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.