MML Investors Services LLC Takes $203,000 Position in Scorpio Tankers Inc. (NYSE:STNG)

MML Investors Services LLC purchased a new position in Scorpio Tankers Inc. (NYSE:STNG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,844 shares of the shipping company’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds also recently bought and sold shares of STNG. EverSource Wealth Advisors LLC grew its stake in shares of Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after buying an additional 291 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Scorpio Tankers in the 3rd quarter valued at $28,000. Quarry LP increased its stake in Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after purchasing an additional 229 shares during the period. Newbridge Financial Services Group Inc. increased its stake in Scorpio Tankers by 34.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after purchasing an additional 177 shares during the period. Finally, AM Squared Ltd bought a new stake in shares of Scorpio Tankers during the third quarter worth $64,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Trading Down 1.1 %

Shares of Scorpio Tankers stock opened at $49.23 on Friday. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. Scorpio Tankers Inc. has a twelve month low of $45.94 and a twelve month high of $84.67. The firm has a market capitalization of $2.49 billion, a PE ratio of 3.53 and a beta of 0.13. The firm’s 50-day moving average price is $54.02 and its 200 day moving average price is $67.07.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.61 by $0.14. The firm 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 22.56% and a net margin of 52.40%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 EPS. On average, sell-side analysts predict that Scorpio Tankers Inc. will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 3.25%. Scorpio Tankers’s payout ratio is 11.47%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on STNG. Jefferies Financial Group dropped their price target on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Evercore ISI dropped their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their price target for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Bank of America dropped their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Finally, Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Scorpio Tankers has an average rating of “Hold” and an average target price of $75.40.

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.