Hood River Capital Management LLC Acquires 7,627 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Hood River Capital Management LLC increased its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 7.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,082 shares of the shipping company’s stock after buying an additional 7,627 shares during the period. Hood River Capital Management LLC owned about 0.21% of Scorpio Tankers worth $8,949,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of STNG. LSV Asset Management boosted its stake in Scorpio Tankers by 8.5% in the second quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock valued at $162,222,000 after acquiring an additional 156,414 shares in the last quarter. Renaissance Technologies LLC grew its stake in Scorpio Tankers by 5.0% during the 2nd 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 during the last quarter. American Century Companies Inc. increased its position in Scorpio Tankers by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock valued at $96,391,000 after buying an additional 199,858 shares in the last quarter. Vanguard Group Inc. raised its stake in Scorpio Tankers by 176.6% in the first quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock valued at $61,574,000 after buying an additional 549,395 shares during the last quarter. Finally, Norges Bank acquired a new stake in Scorpio Tankers in the fourth quarter worth about $34,009,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on STNG. Stifel Nicolaus boosted their target price on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Evercore ISI upped their target price on Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Bank of America decreased their target price on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Scorpio Tankers presently has an average rating of “Moderate Buy” and a consensus target price of $88.80.

Scorpio Tankers Stock Up 2.1 %

Scorpio Tankers stock opened at $69.72 on Tuesday. The business’s 50-day moving average price is $72.06 and its 200 day moving average price is $74.59. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 6.47, a price-to-earnings-growth ratio of 1.88 and a beta of 0.16. Scorpio Tankers Inc. has a 52 week low of $47.88 and a 52 week high of $84.67.

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, beating the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The firm had revenue of $380.70 million during the quarter, compared to analyst estimates of $368.62 million. During the same period in the previous year, the firm earned $2.41 EPS. The business’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Scorpio Tankers Inc. will post 12.71 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s payout ratio is currently 14.84%.

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.