Bank of Montreal Can Buys New Stake in Scorpio Tankers Inc. (NYSE:STNG)

Bank of Montreal Can purchased a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,525 shares of the shipping company’s stock, valued at approximately $1,208,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Scorpio Tankers by 970.0% in the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after buying an additional 291 shares during the last quarter. Fifth Third Bancorp lifted its holdings 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 acquiring an additional 319 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Scorpio Tankers in the 1st quarter worth approximately $58,000. Headlands Technologies LLC boosted 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 worth $80,000 after purchasing an additional 937 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Scorpio Tankers by 7,942.9% during the 2nd quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company’s stock worth $92,000 after purchasing an additional 1,112 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a report on Tuesday, July 30th. Bank of America dropped their target price on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Stifel Nicolaus raised their price objective on Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.80.

Scorpio Tankers Trading Down 1.8 %

Shares of Scorpio Tankers stock opened at $72.94 on Friday. Scorpio Tankers Inc. has a twelve month low of $49.11 and a twelve month high of $84.67. The firm’s 50-day moving average price is $71.41 and its 200 day moving average price is $74.64. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $3.98 billion, a PE ratio of 6.77, a P/E/G ratio of 2.00 and a beta of 0.15.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The business had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. During the same quarter last year, the business posted $2.41 earnings per share. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, sell-side analysts predict that Scorpio Tankers Inc. will post 12.71 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Thursday, August 15th. 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.