Measured Wealth Private Client Group LLC Boosts Stock Position in Scorpio Tankers Inc. (NYSE:STNG)

Measured Wealth Private Client Group LLC lifted its position in Scorpio Tankers Inc. (NYSE:STNG) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,541 shares of the shipping company’s stock after buying an additional 484 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Scorpio Tankers were worth $894,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in Scorpio Tankers during the 1st quarter worth $596,000. BNP Paribas Financial Markets grew its stake in Scorpio Tankers by 37.0% during the 1st quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company’s stock worth $6,356,000 after purchasing an additional 23,975 shares in the last quarter. Acadian Asset Management LLC grew its stake in Scorpio Tankers by 101.4% during the 1st quarter. Acadian Asset Management LLC now owns 19,456 shares of the shipping company’s stock worth $1,391,000 after purchasing an additional 9,798 shares in the last quarter. Cetera Investment Advisers acquired a new position in Scorpio Tankers during the 1st quarter worth $2,107,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Scorpio Tankers by 354.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,439 shares of the shipping company’s stock worth $3,896,000 after purchasing an additional 42,451 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on STNG. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their target price for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a research report on Tuesday. Bank of America lowered their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Finally, StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $78.40.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $58.06 on Thursday. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 5.39 and a beta of 0.15. The stock has a 50 day simple moving average of $68.60 and a 200-day simple moving average of $73.95. 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 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. The business had revenue of $267.99 million during the quarter, compared to the consensus estimate of $267.91 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.91 EPS. On average, equities analysts forecast that Scorpio Tankers Inc. will post 11.46 EPS for the current year.

Scorpio Tankers Dividend Announcement

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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is 14.84%.

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.