Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 46.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,100 shares of the shipping company’s stock after selling 85,900 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.18% of Scorpio Tankers worth $7,893,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its position 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 worth $25,000 after buying an additional 291 shares during the period. Fifth Third Bancorp boosted its position in shares of Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after buying an additional 319 shares during the period. Quarry LP boosted its holdings in Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 229 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings 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 valued at $57,000 after purchasing an additional 177 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in Scorpio Tankers in the first quarter valued at $58,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on STNG. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Stifel Nicolaus raised their price target on Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Bank of America cut their price target on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Jefferies Financial Group restated a “buy” rating and issued a $90.00 price target on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Finally, Evercore ISI raised their price target on Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.80.

Scorpio Tankers Stock Down 1.8 %

STNG opened at $72.94 on Friday. The business’s 50-day simple moving average is $71.41 and its 200-day simple moving average is $74.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67. Scorpio Tankers Inc. has a one year low of $49.11 and a one year high of $84.67. The stock has a market capitalization of $3.98 billion, a P/E ratio of 6.77, a price-to-earnings-growth ratio of 2.00 and a beta of 0.15.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $368.62 million. During the same quarter in the previous year, the firm earned $2.41 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. Analysts anticipate that Scorpio Tankers Inc. will post 12.71 EPS 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 given a dividend of $0.40 per share. 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 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.