Herr Investment Group LLC Has $711,000 Stock Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Herr Investment Group LLC decreased its stake in Scorpio Tankers Inc. (NYSE:STNG) by 16.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,744 shares of the shipping company’s stock after selling 1,700 shares during the period. Herr Investment Group LLC’s holdings in Scorpio Tankers were worth $711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STNG. Fifth Third Bancorp lifted its stake in shares of Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 319 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Scorpio Tankers in the 1st quarter worth about $58,000. Headlands Technologies LLC lifted its position in Scorpio Tankers by 1,912.2% in the 2nd quarter. Headlands Technologies LLC now owns 986 shares of the shipping company’s stock valued at $80,000 after acquiring an additional 937 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Scorpio Tankers by 7,942.9% during the second quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company’s stock valued at $92,000 after buying an additional 1,112 shares during the last quarter. Finally, CWM LLC raised its position in Scorpio Tankers by 39.4% in the 2nd quarter. CWM LLC now owns 1,791 shares of the shipping company’s stock valued at $146,000 after buying an additional 506 shares during the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STNG has been the subject of a number of recent analyst reports. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Stifel Nicolaus increased their price target on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Evercore ISI raised their price target on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a report 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. Finally, Bank of America lowered 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.17.

Scorpio Tankers Trading Up 1.4 %

Shares of STNG opened at $70.44 on Friday. Scorpio Tankers Inc. has a 1-year low of $47.88 and a 1-year high of $84.67. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 6.53, a PEG ratio of 1.88 and a beta of 0.16. The firm’s 50-day moving average price is $72.37 and its 200-day moving average price is $74.46. 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 posted its earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.08. The firm had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.41 EPS. Sell-side analysts anticipate that Scorpio Tankers Inc. will post 12.71 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.27%. Scorpio Tankers’s dividend payout ratio (DPR) is 14.84%.

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.